bullish
Weekly Stock Bullfinder - Week of 8/1
SUMMARY
- While market commentary and cable business media talking heads were focused on arguing about the definition of a recession and whether the US economy is currently in one this week, there were notable developments in the back half of the week that came from DC that have significant market implications moving forward.
- The arguments back and forth of whether or not we are in a recession is classic noise that investors should be tune out as GDP figures released this past week are backwards looking and the labeling is simply used as signaling for political points.
- First, Federal Reserve Chair Jay Powell delivered the expected 75bps of interest rate increase this past meeting, but his comments were interpreted by many that the period of significant outsized hikes of 75bps are now behind us and that lower hikes will soon follow for the remainder of the year.
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