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Stocks closed in the green yesterday after a rough ride in which Chairman Powell turned down the volume at the rate-cut partiers’ rowdy rave. Don’t worry rates are still going down but the Fed is in no hurry, according to the Head Fed himself.

Stocks had a mixed close on Friday as traders mulled the latest inflation figures which showed that it continues to trend toward the Fed’s target. Consumer sentiment was revised upwards by University of Michigan; however, the levels still lag pre-COVID levels.

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.