U.S. Q2 GDP Exceeds Expectations, Growing by 2.8% QoQ;
Core PCE Price Index falls to 2.9% QoQ, still above expectations.
The U.S. economy maintained its resilience with GDP growing by 2.8% quarter-on-quarter in Q2, surpassing expectations.
The core PCE price index fell to 2.9% QoQ, indicating a decrease in inflation compared to the previous quarter, though it remained slightly above expectations.
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10baggerbamm : what's amazing is this is in my opinion enough of a reason for chairman Powell not to cut in September because he follows the data points well we've had an increase in GDP not a slowing in GDP so if that's the case he doesn't cut in September what's going to happen to all the small caps that just catapulted higher on an expectations of a 50 basis point cut in September?
Rojaz 10baggerbamm : No rate cuts, bullish.
10baggerbamm Rojaz : I got news for you , you will see a very fast reversal on the small caps they will tank they'll drop at least 50% of the recent gains from when the Russell popped and I'll bet on that because the market moves in anticipation of an action and if there's no confirmation of that action it reverts very quickly. and the proof it happened last year because they started talking about rate cuts in June and then July and then August September October and utilities rallied and they got slammed in small caps rallied and they got slammed and it will be no different this time everything that's interest rate sensitive that took off will be butchered mark my words print this out stick it on your computer and you wait and see because if there's no rate cut in September everything that just rallied in anticipation will get a haircut very quick