After jay powell made down beat comments about the economy just as coronavirus cases were spiking in the south and the west today the fed chief once again made it clear that the economy remains weak and were seeing more gigantic coronavirus spikes in the south and west this time the dow surged 527 points as it jumped 1. 90 , nasdaq pole vaulted 1. 57 . How is this possible how is it possible goes down gigantically, same thing, next time goes up two key differences. First the fed is planning to buy individual Corporate Bonds to ensure Companies Stay afloat if we had survival of the f fittest, powell is doing everything to limit carnage, survival of everybody. Second, we had the biggest sales gain in history up 17 in may. That sounds very vish we have a super accommodating fed at the same time were Getting Better data which means the recovery has staying power and almost broke oil company or restaurant chain wants to issue bonds, the fed would probably buy them i know there are a lot of
Interesting to watch after the inflation print. We are standing around 4. 62, and moving one basis point lower. We were at 4. 60 today and you have seen moves of more than 10 basis points this week. We started above 4. 70. Bitcoin above 62,000 darling towards record highs. We were only thousands of dollars away and it has been quite parabolic. Some midday movers on the equity fund ash equity side. We are looking at good news and bad news. Snowflake is falling by the most ever by delivering a disappointing Sales Forecast, and then announcing their ceo is stepping down from the role. We are watching shares at best buy rising on an up earnings outlook and now up more than 3. 6 . The company has been struggling with soft demand and seeing the biggest gain since may of 2000 after the meat producer announced its biggest earningspershare meet since 2013. Bath and body works falling after disappointing sales and profit views in the current quarter, even as results from the Holiday Quarter beat