Afternoon Note
The major indices gave up earlier gains following this morning’s lower than expected inflation data. The S&P 500 gained double digits, hitting the 4,100-resistance level, which has been quite challenging to break through.
The Street wants to see inflation deteriorating because that confirms the Fed can become less aggressive in lifting interest rates. In the FOMC’s next move, according to Nick Timiraos, the Fed will hike 50 bps tomorrow, despite some light murmurs about 25 bps today. Surprisingly, he makes no mention of a higher-for-longer scenario, which is something he has been mentioning frequently before.
Eight out of the eleven sectors of the S&P are on green. Consumer Discretionary is the weakest performer with the influential component, Tesla (TSLA), falling to its lowest level since November 2020.
Inflation continues to appear behind us, the question now is whether the Fed will follow the data into stopping and slowing rate increases. All eyes on the Fed decision, tomorrow.
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5/12/2025 1:22 PM | Strong Gains |
5/12/2025 9:47 AM | MAJOR PROGRESS WITH CHINA |
5/9/2025 1:15 PM | Friday Fluctuations |
5/9/2025 9:25 AM | SO MUCH EXCITEMENT |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
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