Hi all,
On Friday we got the jobs data which really spooked the market. This prompted a dramatic drop in treasury yields and in the markets although, we did finish well off the lows of the day on all the indexes.
The cooling jobs market seemed to be what everyone was hoping for to get the Fed to cut rates but when we got those confirming numbers, investors and traders shifted to concerns about a possible recession. Â As I have been saying all along, be careful what you wish for.
We got through a big week of earnings with all the big tech names and the results were mixed. Some responded well like META which beat and guided well and then there was AMZN with concerns about capital spending. Â
More volatility ahead next week but there is not a lot of important economic data to give us some more big moves until later in the month. Stay tuned.
I am away on the Canadian long weekend so keeping it brief. Cheers.
Recap Video
Sectors in Play Last Week
Key Levels for this Week
What to Watch for this Week
Earnings this week
Positions and Trades Last Week
The cash % level is high now. Waiting for new opportunities.
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