Morning Commentary
He told us it was “a great time to buy” fifteen minutes before announcing a 90-day pause yesterday that increased the market.
Then, fifteen minutes after telling folks to buy, President Trump dropped this bombshell.
(Deep) Green on the Screen
The reaction was beyond fabulous – I think someone had been saying the market was a coiled spring. I’m glad you didn’t panic.
Unlike the hot infrared boxes we’ve seen lately, every factor enjoyed deep green rallies.
That green wave washed over the market, lifting every sector with the smallest advance of 3.91% in Utilities (XLU).
Growth set the pace as one firm rescinded its recession call, and others are sure to follow. Remember, even before the tariff news, we got strong earnings from Delta Air Lines (DAL) and a 20% spike in mortgage applications to buy homes.
Only nine names were lower. Meanwhile, the “Mag Seven” put their caps back on and led the way.
The session was one for the record books.
On that recession…never mind.
FOMC Minutes
Inflation Worries Dominated the FOMC Gathering |
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The ‘word salad’ made it clear that members of the Federal Open Market Committee (FOMC) are very concerned about the inflation threat from tariffs. Fed Jay Powell also sees tariffs as a one-time price hike. Interestingly, the second most used word was ‘committee,’ which I think was pushback against the Fed chair. We’ll learn more today with the Consumer Price Index (CPI) report.
Today’s Session
Inflation came in much cooler than expected and for a moment it helped the stock market in pre-opening trading.
These are very encouraging numbers. I get the idea that tariffs will raise prices but won't raise disposable incomes for folks, and in the end, I think there will be less commerce and deflation. For now, too many members of the Fed are bracing for inflation, and the financial media continues to fan the flames globally, suggesting it's not even worth America trying to build new factories because they take too long.
Comments |
White House says this morning they working to remove the Regulations preventing factories from building Fast. #MAGA Greg on 4/10/2025 10:05:08 AM |
Tweet |
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 |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
4/23/2025 9:38 AM | FUNDAMENTALS & HOPE |
4/22/2025 12:42 PM | Tuesday Reputation |
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