Investors are observing the jobless rate indication. Current jobless data is showing worst then estimates. Meaning more people are losing their jobs - bad news. However, bad news is good because when people are losing their jobs, they are cutting off their spending. Therefore market react positively towards it.
For now I have not seen the silver lining to start buying stocks with significant amount of cash due to the following.
1. Jobless data is catch 22. Even Fed wants it, Biden will not. This jobless hike will turn political as Biden will pressure Fed to stop hiking. Maybe.
2. Mid term election perks - all of you may know but selective to be construction and consumar related. Probably.
3. Oil prices are getting higher again. This is hiking up inflation. Its Biden vs Opec +, never ending up and down.
4. Magic number of 4% yield rate for 10 Yr treasury. It s like good number to put aside to get returns, this will be weakening the equities.
Conclusion - Volitile, choose to trade $AMD(AMD)$give us heads up on what's coming. Slashing their earnings, I'm sure more to come. But it's so tempting to buy now [Miser]
Best of luck!
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