Financial News vs. Noise
Nothing day ahead of all the data this week. Interestingly, we saw small caps sell off yesterday, and this morning they are the only area in the red.
Rates look like they are coming back down….
Gold looks like it is coming back up…..
As does oil….
I usually don’t worry about turmoil in the Middle East, but this could be different this time.
Unlikely. Market Volatility Is Back. Will It Last?-WSJ Remember VIX needs a reason to stay elevated, which is why you see moves like this….
Could it spike again? Of course. Could it also settle in at a higher number while we are dealing with issues in Japan and the Middle East? Of course.
Nvidia’s earnings on August 28 and the Federal Reserve’s Jackson Hole Economic Symposium on August 22 and 23 could drive this rebound in the U.S. stock market, Goldman Sachs’ technical strategist Scott Rubner explained in a note.
I do like NVDA here, could use the 10 day as a tight stop if you are nervous. Would also like to see it regain the 20 day EMA.
We still have the inflation numbers to come this week. Inflation, Not Jobs, Is the Focus This Week. Expect Positive News.-Barron's
A slowing labor market may be getting all the attention lately, but U.S. inflation will be back in the headlines this week. Data on Tuesday and Wednesday are expected to show that price growth remained relatively tame in July, keeping alive expectations that the Federal Reserve may cut interest rates in September.
Next couple of days ought to be interesting. The market has come off the lows with a vengeance, so the pain trade would be hotter than expected inflation numbers. I don’t think that will happen, and I think in line numbers along with slowing jobs sets the Fed up to be aggressive, which I think the market will eventually like. However, I always have hedges just in case and this market does look overbought in the short term.
