With the markets closed on Good Friday, March 29th 2024 (tomorrow), today marks the last day of trading for the quarter.
The closing of the quarter is exceptionally strong for stocks but is accompanied by a prevailing sense of caution among traders, who are bracing themselves for crucial inflation data following recent comments from Federal Reserve officials, reinforcing expectations that policymakers will maintain current interest rates.
The remarkable rally that propelled US equity values by $4 trillion this year encountered resistance after Federal Reserve Governor Christopher Waller remarked that he would prefer to observe "at least a couple of months of improved inflation data" before considering rate cuts. Despite robust economic indicators, the markets remained largely unmoved ahead of the release of the Fed's preferred inflation metric and Jerome Powell's anticipated remarks on Friday, coinciding with a market closure.
Peter Boockvar, author of the Bo ...
Sign up to read the entire article. It's Free and Simple to sign up!
We are offering a
FREE 30 day trial which includes full access to the following services here at investorAi.
You only need an email address to sign up! You will NOT be billed at the end of your trial unless you wish to begin a subscription.