The View from 5th Avenue

The View from 5th Avenue – 24 May 2024

The first long weekend of the summer (almost) is finally here and that means a lot of participants are not. And volumes reflected that (-21% versus the 20d)! But after yesterday’s PMI data spooked investors into taking profits (especially after the Fed minutes Wednesday), equities went back in the direction they have become accustomed to and closed higher. There was some economic data to watch for, and the final University of Michigan rose to 69.1 from the preliminary 67.7 reported two weeks ag…

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