Here’s something you don’t hear anymore…the stock market is down on bad economic news. But that is exactly what happened when a slew of data hit the wires at 9:45.
These reports came in below consensus and many are back to levels last seen at the onset of Covid-19 panic.
So maybe a ‘softish landing’ is out of the question, after all?
Recession must be discussed, and once it gets factored into the market, it will make a difference. The problem is, from an official point of view, which could be months away. I think this knee-jerk reaction is telling, but a subpar jobs number tomorrow should spark a big move higher.
|Your possible answers to the Question of the Week should include "Moving toward a recession". I think we will not have a soft landing next year but a strong or severe recession due to the Fed's increase in interest rates. People are relying on credit cards, not buying homes and at some point the credit cards will hit their max. I think we will see significant layoffs and a reduction in hiring. This will ripple throughout the economy. |
Matthew P Marsiglia on 12/1/2022 1:41:22 PM
|When talking heads come on and say we're "not yet in recession" or "we're headed for recession" - even in light of the two negative GDP quarters - it's about time to ask them to *concretely* define what a recession actually is (to them).|
Jack G on 12/1/2022 2:32:40 PM
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