Afternoon Note
Rocket Fuel
By Charles Payne, CEO & Principal Analyst
6/24/2022 1:31 PM
The market was already going to open higher when it got a boost.
JP Morgan announced, "Our forecast expects the Fed to be largely successful in engineering a soft landing, at least through the end of next year.”
That put some rocket fuel in the move.
Microsoft (MSFT) got an upgrade to top idea at Citigroup.
The Conundrum
The final read from the Michigan Consumer Sentiment report out today got even worse – hitting 50.0 down 14.4% from a month ago and -41.5% from a year ago. Long term inflation edged down to 3.1% from 3.3%.
Things are going to get worse before they get better, but there is a greater sense things will get better.
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