David Joy may refer to: (wikipedia)
The market got a little optimistic and ahead of itself anticipating the end of rate hikes. The market will churn sideways for the immediate future.
We'll see what impact, if anything, the hurricane had on them, and it may be a harbinger.
The evidence of gathering economic strength is becoming increasingly difficult to ignore.
You might have a situation where the Fed raises rates, modifies the language a little bit but intends to keep on going. If the market assumes that it's one more and done that might be a misread.
The labor market is important to the Fed under any circumstances. Once you get rising wage pressure that's when inflation gets intractable.
The market is going to sort of tread water until we hear the results of the (Fed) meeting and what the Fed has to say about their decision. That's the 500-pound gorilla of events next week.
There seems to be a wide disconnect between the headline growth numbers and individual perception about the relative health of the economy.
Clearly the far more important factor for tech is the relative strength of the economy. It trumps the dollar situation. But if the dollar improves, it does take the bloom off the rose for some of the sales numbers that companies have reported.
Stocks in the financial and consumer discretionary sectors look particularly vulnerable as the perception is that inflationary pressures will keep mounting and the Fed is not done with raising rates.
Higher oil prices, concerns about rising interest rates here and in Europe, and weak economic data are all pushing the markets down today. The scenario is not clear enough for investors to support sustained gains in stocks.