We publish on a 3-day a week schedule:
– SKIP MONDAY <-- No Macro Minute Video Sunday or First Word Monday due to Travel
– SKIP TUESDAY
– SKIP THURSDAY
We discuss: how there are multiple reasons to believe this baby rally is gaining strength. Foremost is a Fed which is beginning to be forward looking. But there are structural reasons to believe a tradable low is in place.
Please click below to view our Macro Minute (Duration: 6:20).
Equities have managed to gain for 4 consecutive days with cumulative gains week to date of ~5%. As we noted earlier this week, of the 9 key macro events (plus $AAPL), only a few needed to go right for stocks to reverse the many key macro reports. And indeed, incoming macro developments have been favorable in a way that, in our view, sets the stage for stocks to gain in the near-term. So far, it is a "baby rally" but this could turn into a larger rally.The key remaining macro data point is the October employment report released Friday at 8:30am ET. - The Street is looking for +180k and avg hourly ear...