The latest GDP result is 1.6% whereas the FED predicted a 2.7% and the general market predicted 2.5%. This is a big miss and Yellen downplayed the expectation and saying the numbers would be revised.
The earlier correction this week was due to high PCE, generally high core PCE. Inflation seems very sticky at this point and could accelerate back up to 4%. With the election coming up, the FED is put in a difficult situation. Price cut will likely to happen only after September or November.
With the MAG7 taking a hit on Facebook and the rally from Google and Microsoft, it is time to stay defensive. Covered call will be a important play in the upcoming FOMC as there are signs of bearish play.$ProShares UltraPro QQQ(TQQQ)$ $Microsoft(MSFT)$ $Alphabet(GOOG)$
Earning Season
Are you ready to share your opinion and win stock vouchers during earnings season? This is your chance to make your voice heard and be rewarded for it.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments