Well, here it is—the moment of truth.
Tech earnings have shown a lot of promise last night going into this morning—but not enough to satiate a market hunting for perfection.
Treasury yields continued to fall today ahead of Jerome Powell’s big rate decision this afternoon. While we probably won’t get rate cuts today—everyone is going to be paying close attention to Powell’s comments after the rate decision comes to light. This whole rally is built on the hope of rate cuts coming sooner rather than later. Basically, no matter what Powell says, the market is going to overreact to his commentary today.
Private payrolls offered a little more inflation hope, coming back cooler than The Street expected with only 107,000 new jobs added in January. Given the backdrop of tech layoffs and slowing expenses—cooler jobs numbers like that make sense. But is that enough to justify rate cuts?
With all the noise hitting the market today—let’s explore the big headlines that will have a strong impact in the long term. Stay above the noise and you’ll always find a path to victory.