There is a weekly theme for economic data from the Federal Reserve... Last week the theme was jobs data. Jobless claims continued their downward trend and May's job creation number was so-so. This week's Fed theme is inflationary pressure, and there are a few reports to keep our eye on.
The bond market edged up today but is unlikely to go too much higher. I expect more choppiness the next couple of months until inflation kicks in.
The S&P 500 continued its bullish move while the Nasdaq pulled above its 50-day moving average for the second day. Technology stocks could experience one more move higher before giving in to rising inflationary pressures. In today's video, I'll go over why tech is sitting on a potential breakout… why bond markets are breaking higher… the relationship between inflation and tech stocks… a broad market review… big Fed data to focus on… and the top pullback and breakout stocks.
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