The View from 5th Avenue

The View from 5th Avenue – 28 February 2024

More waiting. Ahead of Thursday/Friday’s inflation data (as well as US PCE tomorrow), investors were happy to rest and digest again today. Markets lazed, finishing slightly lower, with the Russell giving back more than half of yesterday’s gains. None of the economic data was market moving and Fed rhetoric remained on piste. Thus, the story is still one of single stocks as a bunch of earnings rolled out over the past 24 hours. Meanwhile, the DXY was slightly higher, while Brent was slightly low…

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