) are facing downward pressure as higher interest rates persist, weighing on the economy and markets. Bob Elliott, co-Founder, CEO and CIO of Unlimited, joins Market Domination to provide his outlook on the Federal Reserve's policy stance and its implications for the markets.
Well, I think uh given all the noise of the commentary, uh people often think that the fed is likely to be more active in terms of shifting its policy mix than the reality, most central banks when they've been on pause for an extended period of time and aren't seeing meaningful shifts in the macro economy.You know, the inclination is to pause and do nothing and gather more information.
Well, I think for a period of time it looked like uh stocks are agnostic, uh particularly at the beginning of the year as rate cuts came out and stocks rallied. Combined with the fact that uh the fed not delivering those cuts is going to put pressure on the bond market discount rates, which is also a drag on stocks.
Well, I think uh days like today highlight just how sensitive uh the equity markets in aggregate are to, to uh to the big A I trade, you know, in, if you look at sort of the average stock, it's doing fine today and the big stocks are dragging down the overall market.
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