Third times a charm?
The market has shrugged off the hot inflation numbers in Jan and Feb. Now that March’s numbers came in hot as well, the market realised they cannot ignore the fact that inflation is stickier than ever. And the market fell on Wed. Seems like the higher for longer narrative is here to stay.
But lo and behold, the phenomenon of dip buying appeared again on Thurs as investors swept up stocks to push the market higher. Several big tech stocks have solid gains, with Amazon and Google hitting their all time high.
But lo and behold, the phenomenon of dip buying appeared again on Thurs as investors swept up stocks to push the market higher. Several big tech stocks have solid gains, with Amazon and Google hitting their all time high.
Amazing!
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Markio1315 : All gains gave back today.. $JPMorgan (JPM.US)$ showing the way how interest hurts.
RDK79 : If inflation is ‘hot’ now, what was it called last year?
While the United States has experienced a relatively low and stable inflation rate since the 1980s, inflation hit record highs in 2021 and 2022 in the wake of the pandemic. The year-over-year inflation rate was 7.0% at the end of 2021 and 6.5% at the end of 2022. At the end of 2023, it was 3.4%.
PS: inflation generally about 4.5% in the Reagan years mid 80s). Can’t remember if folks were freaking out then. Some think those were good economic years, at least until Clinton balanced the Budget a fews later. :)