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Trading Desk Notes For February 17, 2024

US Stock Markets Find a Positive Narrative to Keep the Rally Going

The S&P500 rebounded past the 5000 yesterday. This time, a mixed set of manufacturing data and a drop in US retail sales – which fell the most in almost a year – were brought forward as soothing factors regarding the dovish Federal Reserve (Fed) expectations. But if retail sales had remained strong, investors would’ve been as happy to see the US economy land soft.

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