Splendid finish for the week! All three major indices ended in solid green today. It appears as if the narrative is still driven by rate hike speculation. There was an article in Wall Street Journal that seemed to be validated by comments of Federal Reserve officials that they might soon start debate on reducing the size of rate hikes. That speculation and perhaps some options expiry activity was enough to stage a turnaround for stocks today. Rally was so strong that it ignored the dismal results and guidance from SNAP (not to mention the miss and 2022 delivery target miss by TSLA). Generally speaking, earnings season has been good (compared to what was feared). I mean, even NFLX beat estimates and increased subscribers (remains to be seen if it is a turnaround story. there might be a rally nevertheless). Those don't necessarily paint a picture about the economy through. Let's checkout a stock that perhaps points to how the economy is doing.
top of page
bottom of page
Yorumlar