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Hunt For 'Red October' Over As /US Earnings & Inflation Kill 'Goldilocks' Narrative
The market drifted lower on a combination of 1) disappointing tech prints (MSFT -6% & META -4%), 2) Poor liquidity (according to Goldman Sachs trading desk), and 3) Core PCE posting its biggest monthly gain since April. Not exactly 'goldilocks'!! Inflation surprises are picking up post rate-cut... chart ...bolstering the case for a slower pace of rate cuts... charts Goldman's trading desk noted that market volumes continue to be strong, +14% vs the 20dma, although S&P top of book poor compared to the start of the week. We are better to buy as a floor (~1B net demand) led by HFs buying pockets of Tech & ... (full story)
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- Posted: Oct 31, 2024 10:48pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,386
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