Friday Outlook: End-of-Month Rally Time
The nugget of good news bulls discovered yesterday was that Uncle Buck found a way to rally. This was primarily due to rising yields on US debt instruments after some tough “talk” by Fed officials about raising interest rates and a bett
er GDP number.
But, did you know much of the GDP number came from the higher value of energy? A lot more than they’re saying. So, what we need then is a “core” GDP number right? In your dreams.
All this got the “cut interest rates now” crowd to flip their chant to “raise interest rates now.” They’re a versatile bunch.
Volume is increasing slightly but still not eye-popping while breadth is quite positive.
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