Broad market rallied on wage moderation YoY in December vs a revised (downward) data from November, along with contraction from ISM (Non-Manufacturing) data. Hopes for the Fed to pause its rate hikes sooner than previously thought remains the general theme dominating market moves.
Attention for the week will be on Inflation data (Thursday) and beginning of earnings Q4 season led by financials.
Thanks for reading.
PS: If you enjoy the above curated article, you may follow me on twitter (@jeffsuntrading) to get daily market diary, trading ideas and market updates.
9/1/2023 Market Diary & Playbook
– Market rallied on poor data, for hope of pause in rate hikes sooner. $SPY & $IWM reclaim declining 10&20MA, BO of ST base
– Leading groups all close at month high
– this week highlight on CPI, Q4 earnings led by $XLF: $WFC $C $JPM $BAC $BLK pic.twitter.com/IKZnieKmhu— Jeff Sun, CFTe (@jeffsuntrading) January 9, 2023
