/biz/ - Business & Finance

>>50798955
we are
consumer sentiment is at all time low, lower than during 2008 crisis
people are getting second jobs in hospitality sector especially (which disappears after the summer ends) to afford gas and groceries
the market has been pricing in a federal reserve pivot for the last month or so, where it's expected that the fed will make 3 interest rate cuts next year (which is retarded)
this is what is propping up the market singlehandedly
the market thinks that inflation is easing, that there is sufficient demand destruction to allow the Fed to pivot into cutting interest rates and having more dovish monetary policy
Friday hot jobs report squashed that narrative, now market is waiting to see CPI on Wednesday for confirmation, especially core CPI - headline doesn't matter as much this report - markets wants to know if inflation is sticky or not (which it is)
"they" are pushing the false narrative that the fed will pivot, that we bottomed, that you should be buying tech stocks, to fish sheep retail in and leave them holding the bag, before the real move(s) in September/October/November