ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary: For those desperately looking for the “Fed pivot”, today’s Federal Reserve statement on monetary policy disappointed with a validation of the breakdown leading into the Fed meeting. Fed Chair Jerome Powell was almost unrelenting from start to finish with his efforts to stay on message: inflation remains too high, and the Fed … Read more
Stock Market Commentary: Jerome Powell, and the Federal Reserve, remained resolute with the anti-inflation rhetoric. The stock market hated it. Slowing growth, recession fears, and hopes for “peak inflation” are still not producing the result Wall Street wants: a Federal Reserve backing down from monetary tightening, also known as “the pivot.” The bears seized the … Read more
Stock Market Commentary: Once again, Apple Inc (AAPL) became a poster child of market sentiment. When AAPL pulled away from resistance at its 50-day moving average (DMA) (the red line below), the move looked like a tease with bear market conditions still in force. Two weeks later, AAPL emerged vindicated as a 3.3% post-earnings gain … Read more
Stock Market Commentary: The stock market overcame a serious setback with an impressive rebound. The rally started before Jay Powell announced the Federal Reserve’s latest decision on monetary policy and pushed higher afterward. The market seemed determine to launch as the opening gap up immediately erased the previous day’s loss. Buyers never looked back and … Read more
The landscape of inflation and monetary policy continues to change fast. The June inflation numbers disappointed expectations once again for peak inflation. A surprise 1% point rate hike by the Bank of Canada combined with this hot inflation accelerated the timeline for peak interest rates from the Federal Reserve. Instead of a 75 basis point … Read more