In the most predictable event of the week, the PCE inflation numbers computed by the government have come out, and, surprise, surprise, they’re lower than expected. We are now expected to believe that inflation is 2.4%. Yep.
In turn, everything has turned green. It’s the same logic that’s driven the rally for all of 2024:
Cooling Inflation —> Powell Cuts Rates —> Dow Should be at 50,000
Thus, the S&P 500 futures are zipping higher:
As are the small caps /RTY:
And the NASDAQ:
Probably going to be a not-so-great opening for me, but the day is very young!
