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Sentiment Rally
The Compound and Friends
Is the Fed in Data Dependent Mode?
I don't think Amazon could take down caterpillar. I just think we're past that right now, because Amazon is Amazon problems. The Fed was a 2022 story, a dominant of the market alongside inflation, and that's in the rear view mirror. We got jobless claims this morning, lowest since April 2022,. You have labor costs rising at 1.1% quarter, which is below the 1.5% estimate. So you have still an extremely tight labor market with wage pressure coming down. And you have mortgage rates back below 6%. So the housing market might not crash. And earnings are OK. Getting a lot of good news. If Apple, Amazon, and Google don't
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