“St. Louis Fed President James Bullard said the central bank should front-load an aggressive series of rate hikes, which if successful would push down inflation and could lead to policy easing in 2023 or 2024”
Also, with gas prices easily over USD 5.50/gallon in most of the country, the common man is cutting back on groceries too, let alone discretionary spending.
It does have the appearance of market intervention, but I don’t know.
It could be that the Fed (or its proxies) intervened in the markets with the goal of reducing market volatility, but I don’t know.
I’ve noticed that this seems to happen frequently on Friday afternoons when the U.S. major stock indices are down.
Despite possible intervention today, all of the U.S. major stock indices have booked losses for seven weeks in a row.
That takes some mojo.
Manipulation won’t die easily, Sir Silverboom.
Who bought?
Which Dow component(s) jumped the most?
GL
Late in the session or AH:
“St. Louis Fed President James Bullard said the central bank should front-load an aggressive series of rate hikes, which if successful would push down inflation and could lead to policy easing in 2023 or 2024”
Perfect cue for post Opex action after a ramp.
Dow has just had a worst 8-week run in 99 years.
Next week are some big earnings too … tech, retail
https://investorplace.com/2022/05/7-stocks-reporting-earnings-the-week-of-may-23-2022/
Now, many tech “growth” names are still trading much higher than Wall Street revised price targets.
https://finance.yahoo.com/m/6c9c470e-faa4-3fd5-9fbc-12194b2ccd89/why-shares-of-upstart-are.html
Also, with gas prices easily over USD 5.50/gallon in most of the country, the common man is cutting back on groceries too, let alone discretionary spending.
GL
It does have the appearance of market intervention, but I don’t know.
It could be that the Fed (or its proxies) intervened in the markets with the goal of reducing market volatility, but I don’t know.
I’ve noticed that this seems to happen frequently on Friday afternoons when the U.S. major stock indices are down.
Despite possible intervention today, all of the U.S. major stock indices have booked losses for seven weeks in a row.