So today the markets ripped up, which is great! 🚀 Let's enjoy a green Tuesday.
The main news today that is the catalyst for this rise is the drop in jobs. Even dropping below 9 million for the first time since March 2021. So this data shows us that markets are cooling and that is exactly what the Fed wants and is looking at when raising interest rates. I haven't looked at the various percentage estimates yet, but that they would raise again at the next meeting was small and after this report I think it's almost a given that rates will be left unraised in September.
So the specific numbers are, for July there were 8.8 million job openings, down from 9.16 million job openings in June. Economists surveyed by Bloomberg had expected 9.5 million openings in July.
So let's see how long this enthusiasm lasts. What do you think, my friends? 😊 I personally like to see this of course, but I would also think that there is still plenty of time before the end of the year, various data will come in and still the Fed will consider further increases in my opinion, after this expected pause. 😊
I wonder what it will do in the fall
Since my portfolio is currently all long term, the green day has rather the opposite effect on me. I don't want to collect anything, rather buy.
The growth is very nice👍If it lasts until the end of the week or even the next one, I would really love those markets😅
I didn't expect such a big growth, not only did we get to the 50-day moving average very quickly, but we even shot through it.
P.S. I wouldn't be mad for a minor correction 😉 if it drops a bit tomorrow, that would be nice.
It's all up to the Fed now, come September and that's statistically the worst month in the market. But I believe they will not raise rates at the next meeting. I just don't fit Michael Burry's short into the current situation. And I was expecting a mild recession and a stock market crash myself, but that's not likely to happen based on the known data. We'll see...