Nasdaq declined. Everyone acts like this a totally by narcoticry si bianar. The fed tightened nine times and weve had a phenomenal bull run here im not saying the fed doesnt matter Jerome Powell almost drove the economy off the cliff when he was determined to raise Interest Rates. Ill be watching him like a hawk or maybe a dovish hawk when he speaks to congress however, i think far too many people are misreading the fed and more important, they are misreading the moment first, let me set the stage. Lets talk about the economy after gaining strength for the better part of a decade, the economy started losing steam last fall. The Business Cycle is a tricky thing. It can speed up or slow down for any number of reasons. We dont need to know the cost we just need to notice that a slowdown is happening. The problem late last year is that they didnt notice. They didnt notice in 2007, either something they get wrong now and then if you look back at the period since the fed started tightening,
Gains. What is going on . Looks like oil prices are part of the story. They are making new lows today after inventory reports showed an unexpected drawdown in crude Oil Inventories and a large built in distillates. The map here. We have bond yields lower today. Benefit utilities in real estate and telecom stocks. We have the Energy Shares down. 9 . Materials off by a quarter percent. More evenly split on the wheel between red and green at this point. We see stocks slip on over into the red. When we see the dow is lower today, boeing is the worstperforming stock by weights within that average. We also have to talk about apple here. With tech in the top spot, apple is a big reason why. It is also coming off the highs of the session. Sprint and tmobile made comments that iphone 7 preorders are way above what they have seen for prior models, but verizon is throwing a little bit of cold water on that. The Vice President spoke at a bank of Americamerrill Lynch Conference Today and said that
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