Market Report for Nov 18 2022
Fed President Bullard said the fed funds rate may need to be between 5-7% which is more than was expected by the market. Higher rates will lead to worries about the economy and might see further stunted earnings growth.
The market closed slightly in the red across the board but higher from the start of the day, even after Bullard’s statement.
Both the S%P 500 and Nasdaq Composite are at levels of some form of support.
Time to start enjoying the weekend. See you on the weekly webinar.
Let’s go trade!