“New highs are bullish” is the familiar refrain, and the S&P 500 has been whistling that tune every day since it finally broke (and closed) through the 4818 level last Friday. Investors have a positive outlook currently on the economy, and of the Fed’s intent, and today’s data supported the soft landing/ no landing outcome they are looking for. GDP today (Q4 advanced) was 3.3%, higher than the 2% expected. Personal Consumption of 2.8% also was a beat, and the quarterly PCE index component remai…
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