Good morning, yesterday's trade picked up where Friday's left off, building up gains based on a belief that the Fed won't have to raise rates as much as feared and that the U.S. economy may see a "soft landing" after all. That thinking fueled buying activity in the bond and equity markets to start the day. The rally effort lost momentum, however, in the afternoon trade. The downturn coincided with Atlanta Fed President Bostic (not an FOMC voter) saying that the Fed is willing to overshoot when it comes to tightening, adding that the Fed should hold rates at 5% for a "long time". Ultimately, the S&P 500 closed below the 3,900 level.
Fed Chair Powell Speaks will begin at 9am today. Today's market trend will depend on whether he speaks dovishly or hawkishly. Please beware of the risk and trade cautiously today
Conor Mac's avatar
Good morning Johnson!
Joey Hirendernath's avatar
Hi Johnson, I can see you're relatively new here on Commonstock might I ask what brought you here?

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