The week started out in poor fashion for stocks and it's been a choppy ones but the bulls are winning again.
Amazon is leading the way today with a 3.7% gain that's brought it within a fraction of a new record high. The dynamic that unfolded in today's economic data was a good one for stocks. The numbers were soft enough to keep a steady stream of rate cuts coming but not so soft as to flash warning signs about a recession. In a leverage-driven market, I tend to think that rates are a much bigger factor than the strength of the economy anyway.
You can see some of that dynamic playing out in the bond market this week. Yields rose early in the week but they've been reeled in on the softer economic data.
Technically, not much stands in the way of another rise above 6500, though the bears will argue that seasonals are negative in September. In the short term though, we will have to wait for tomorrow's jobs report. The problem is that it's going to be hard to believe in them.
This article was written by Adam Button at investinglive.com.Hence then, the article about us stocks find a bid now higher on the week was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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