.SPX YTD mountain S & P 500 YTD My last column before a late-summer hiatus, published July 15 with the S & P about 1% higher than Friday's close, began: "Enough for now?
There's been no net progress since then after a modest push higher, 5% pullback and partial bounce.
There's no doubt the market is sensitive to these yield moves, unsure how the economy and market might handle them.
There's an insistence among plenty of cautious market participants that stocks are only as high as they are because eventual Fed rate cuts are anticipated.
Not to be too literal, but this at least would suggest some more seasonal choppiness before a potential break higher.
Persons:
There's, Oleg Melentyev, –, Goldman Sachs, Tony Pasquariello, China's
Organizations:
Federal Reserve, U.S ., Federal, Treasury, Labor, Bank of, UAW, Atlanta Fed, Investment
Locations:
Europe, China, U.S