The Rise of the Unemployment Rate

This earnings season will be the time when we decide whether or not they cut enough. The ECB moved 50 basis points in the wake of all that, realizing what they were contending with. People think that if the Fed pauses now magically everything gets better. Inflation is still a problem. I mean, we can go right down the list of reasons why things are going to deteriorate from here. Yet you have an S&P 500 that it's continuing to hold that 200-day moving average. You're continuing to see relative strength in the NASDAQ. And for a lot of people out there, they're giving the all clear sign.