Stocks & Rate-Cut-Hopes Rebound As Tariff 'Flexibility' Trumps FedSpeak
What a difference a day makes... According to Goldman Sachs trading desk, while yesterday quietest session of the year, today was the busiest. Market volumes explosive early, largely driven by OpEx + micro stories (NKE, FDX, BA, MU, LEN). Comments from Fed's Goolsbee, who called out "strength in hard econ data" while mentioning the word 'stagflation' and 'transitory' seemed to spook stocks in the pre-open (ahead of the first tranche of OpEx) as he suggested it would take 'longer' to make their next rate decision (and of course they just blew their initial dovish wad on QT Taper).
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