{"id":68180,"date":"2024-03-23T21:25:31","date_gmt":"2024-03-24T04:25:31","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=68180"},"modified":"2024-03-23T21:25:31","modified_gmt":"2024-03-24T04:25:31","slug":"statement-week-for-stocks-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/03\/23\/statement-week-for-stocks-the-market-breadth\/","title":{"rendered":"A Statement Week for Stocks – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

Stocks quickly invalidated the latest topping signals<\/a> and recorded a statement week. This regular routine was further boosted by a Federal Reserve that dished out stronger forecasts for the economy and inflation<\/a> and yet, much to my bemusement<\/a>, “promised” the stock market three rate cuts are still likely ahead for the year. Fed Chair Jerome Powell even reassured markets that a rate cut need not wait for weakness in labor markets. The path forward looks relatively clear until another earnings season starts in about a month. Given six Fed meetings remain for the year, (at least?) half of the meetings will deliver rate cut goodies for the stock market; this distribution offers the prospect of constant statements of the Fed’s “support” for the rally. The Fed’s next pronouncement on monetary policy comes on May 1st. <\/p>\n\n\n\n

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