Locator: 46814INV.
Updates
Later, 2:37 p.m. CDT: S&P 500 crosses 5,200 for the first time ever. And $7 trillion on the sidelines.
- all indices rise 1% with the Russell rising 2%
- a record triple record close
- Russell 2,000 doing particularly well
- Dow up 365 points; now trading near 39,500
- NASDAQ up 190 points
- truly incredible
- same ole buzz words being used by talking heads: stagflation; it gets tedious
- JPow: the jobs data no longer matters; it's all about that 2-handle on inflation
- stickiness of inflation: housing; simply can't build enough houses --
Original Post
Most important data point: Fed rate increase remains off the table.
- three rate cuts this year -- that's the consensus --
- three rate cuts in a presidential election year? Not gonna happen.
- if they get the 75 basis point cut this year, the only way it happens: one 25-basis point cut before the election and a 50-basis point cut after the election ... unless ....
GDP: Fed boosts GDP from 1.4 to ... drum roll .. 2.1.
Market: all indices improve significantly; all indices solidly green. My portfolio which had been "red" turned to green; turned green on a dime. Amazing! [Later, during the JPow press conference, the market surges.]
Reminder:
I am inappropriately exuberant about the US economy and the US market, I
am also inappropriately exuberant about all things Apple.
See disclaimer. This is not an investment site.
Disclaimer: this is not an
investment site. Do not make any investment, financial, job, career,
travel, or relationship decisions based on what you read here or think
you may have read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.
Reminder:
I am inappropriately exuberant about the US economy and the US market, I
am also inappropriately exuberant about all things Apple.
So, let's see what AAPL is doing after the Fed decision.
Ticker AAPL: unchanged; 0.5% on the upside. Whoo-hoo. Trending toward $177. [Later, wow, during the JPow press conference, AAPL up nicely, up $1.87, and now trending toward $178.] [Later, AAPL up over $2.00 and now trading above $180. This is truly remarkable.] [AAPL reportedly to be sued by DOJ for antitrust; shares drop over $2 / share after hours. If so, easy come, easy go.]
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