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Stocks fizzled out in the final hours of the quarter on Friday as the bulls hurried to the beaches trying to forget a week of zany occurrences. The Fed’s favorite gauge of inflation showed that price growth cooled a bit raising the probability of rates cuts.

Stocks inched higher yesterday as bets for more aggressive rate cuts increased with weak economic data. New Home Sales declined by -11.3% in May surprising even the most pessimistic blue-chip economists – a possible sign of cooling off in housing.

Stocks posted somewhat of a rebound yesterday with a mixed close as traders thought better of the prior day’s tech selling. Home prices continue to climb according to the latest raft of data, but the growth may be slowing.

Stocks wanted to rally yesterday but were held back by the massive gravity from planet NVIDIA which suffered setbacks. Some FOMC members are softening their language – it will take more than talk to move the needle.

Stocks had a mixed close on Friday as flash PMIs indicated stronger than expected sentiment from the guys and gals who make real decisions. You can ignore the fact that the Leading Economic Index has been negative since March of 2022, but you probably shouldn’t.

Stocks had a varied close yesterday the Dow skipping and the Nasdaq tripping on mixed global economic data. Housing data suggests a cooling of the hot real estate market, but historical volatility suggests it may not be long-lasting.

Stocks rose on Tuesday as slower-than-expected Retails Sales increased hopes for sooner rate cuts. Without a strong showing from Autos, Retail Sales came in with an anemic print which included a downward revision of the prior month.