Hi all,
It was a short but volatile trading week. The PCE price index report released Friday showed the 12-month core PCE came in at 2.8%. This was steady in comparison to March and also was in line with the market’s expectations. A slightly higher jobless claims report on Thursday also got the yields moving lower after moving up earlier in the week.Â
The market went for a wild ride on Friday by selling off pretty significantly in the morning and then came ripping back higher into the close. An amazing move in both directions.
The rate cut agenda seems to be on everyone’s mind with projections ranging from a rate increase to several cuts later in the year. No cut or raise is expected at the next meeting on June 12. We are in a quiet period now so no Fed speakers until after the meeting.
The AI story took a bit of a hit this week based on guidance from Dell and CRM however, NVDA remains strong and will split 10 shares for 1 share on the 8th. A broadening out of buying in the markets and away from a few high fliers seems possible. Mildly bullish still.
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
Tracking for Potential Trades
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