The Reality Behind Market Optimism
From Macro EDGE Roundup recorded on 02/08/2024
In this short clip from Macro EDGE Roundup recorded on 02/08/2024 (available to EDGE members), Craig Shapiro and I discuss the current state of the U.S. equities market, emphasizing its narrow rally driven primarily by large-cap tech stocks and the potential risks that could derail this momentum.
We explore the implications of inflation not decreasing as expected, particularly highlighting the bottoming of inflation in late 2023 and the reacceleration of core inflation rates.
Our conversation also touches on the upcoming CPI revisions and their potential impact on the Federal Reserve's decisions regarding interest rates, suggesting that any surprises in the data could influence the Fed's timeline for rate cuts.
📺 In this episode:
00:00 Week Overview
01:09 Inflation Concerns and Market Implications
02:13 Impact of Oil and Gasoline Prices on Inflation
03:33 Federal Reserve's Perspective on Inflation and Wages
04:31 Potential Market Impact of CPI Revisions
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