Why Isn’t the Market Going Up?

The fundamental news has been very market friendly the last two weeks, but the market has not been able to advance.

PRE-OPEN MARKET COMMENTS MONDAY - In the last two weeks the Fed has cut interest rates by 50 basis points and they stated that they do NOT see any signs of economic weakness. Their dual mandate is to reign in inflation while preserving employment. They feel that inflation is almost within the target range and that they have room to ease. In the FOMC press conference Powell said that they don't want to wait for signs of economic deceleration, they want to act before they see it. This is a dovish stance, but the Asset Managers wanted to wait for the next round of economic releases for confirmation.

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