Just like when the bald child in "The Matrix" pointed out there is no spoon, there is no Fed pivot on the horizon. Equities snapped a 4-week win streak last week as the reality begins to set in that the Fed isn’t finished raising rates.
Equities moved higher last week as inflation numbers gave hope that the Fed might pivot soon.
Equities were mixed as Friday’s Jobs Report was much higher than expected, giving the Fed room to continue hiking rates.
Equities continued to rally, especially as investors took Fed Chairman Powell’s comments as dovish.
Equities rallied most of the week, but lost steam on Friday as poor economic data and the prospect of future Fed hikes remains elevated.
Equities declined all week on inflationary data, but rallied on Monday at the prospect of stable rate hikes.