There was a lot of trepidation on Monday after Friday's sell-off and when things didn't go from bad to worse, it has emboldened dip buyers to step in. But most of the investment community hasn't realized that the economy is slowing and that earnings are reflecting that and valuations are going to have to be adjusted.
More Quotes from Barry Ritholtz:
If the Fed stops raising rates, the market will blame them if inflation gets too hot, and if they keep cranking up interest rates, then the real estate market is at risk. It's a somewhat challenging environment.Barry Ritholtz
Markets don't make a top and then slide, topping is a process. Typically markets make an initial top, back off, try to surpass it, and can't do it.
Barry Ritholtz
This is one reason why recent labor numbers were lackluster, ... Accelerated deprecation put a thumb on the side of the scale in favor of increased capital expenditures instead of hiring.
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Regardless of whether this upcoming release shows inflation today, given the supply shock to oil, we're expected to see inflation move higher in the next few months. It would certainly put a fork in the concept that the Fed has the opportunity to pause.
Barry Ritholtz
I don't think this has much of an impact on the U.S. markets, barring some bit of tomfoolery in the Middle East.
Barry Ritholtz
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