Markets are rallying today. I scanned the Bloomberg headlines and there’s something about a Cisco buyback and upgrades on oil stocks.
Here’s some other news that may be of significance:
Fed Governor Jawbones Market Against Rate Cut Expectations (yeah, uh-huh)
Our Fairweather Pal, FedEx, Cuts Forecasts
Goldman Sachs Warns of Recession Risk
TIC Data Comes in Under Expectations
The TIC [...]
The volatility we saw over the summer has returned to the markets.
No one knows where the economy is headed though it seems everyone has an opinion on it. Here’s mine:
Wall Street, at the very least, is being myopic. There have been too many big-company CEOs sounding the warning bell about recession to ignore. [...]
Michael Darda is chief economist at MKM Partners and a frequent guest on CNBC, Bloomberg, etc. He makes regular appearances on Aaron Task’s Real Story podcast from thestreet.com, which is how I usually come across his views.
Throughout the first part of the year, Darda was consistently bullish on the US economy, saying that growth [...]
