GET TRENDING FINANCIAL NEWS AND INSIGHTS FIRST

Stocks rallied yesterday with solid economic numbers, supported by sweet-talk from the Fed. GDP growth estimates were revised upward fueling hopes of a soft landing.

Stocks broke their winning streak yesterday amidst confusion amongst investors on what they should be watching now to inform them on the next move in stocks. New Home Sales were muted in August but not as bad as expected.

Chinese bullishness was imported into yesterday’s US stock market gains with the PBOC joining the stimulus bandwagon. Consumer Confidence is eroding more than economists were expecting creating clouds over the economy’s future.

Stocks traded higher yesterday with the Dow and S&P landing on new high peaks as investors bask in the setting sun of the Fed’s oversized rate cut. The waiting game begins for what might be the next big catalyst for stocks and bonds; some may be just around the corner.

Stocks had a mixed close in bouncy trading session on Friday with moves exacerbated by options expiration. The first of the Fed speakers came out to justify its big cut and the one FOMC member that voted for a smaller cut warned that it was premature.

Stoked stocks rallied into the nosebleed section because Powell was not as nasty as he could have been the day before – a celebration ensued. The Leading Economic Index declined less than expected which means things are still slowing, but not as fast as economists expected.