Stocks Continue May Rally After CPI, PPI
May 17, 2024
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“You only go around once, but if you play your cards right, once is enough.” ~Frank Sinatra
Good evening,
When stocks rose the week of May 6-10 despite a dearth of macroeconomic data being released, Fundstrat Head of Research Tom Lee saw this as a sign that investors had de-risked to such an extent in April that they now needed to re-risk. Lee further argued that, once they resumed, macroeconomic data releases would serve as a catalyst for further gains in stocks.
This week, the Nasdaq and the S&P 500 hit new all-time high closes, and the Dow breached the 40,000 milestone for...