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Strategies & Market Trends : Humble1 and Swing Trading Friends

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From: humble1	10/30/2023 3:08:58 AM
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Pause now. Rate cuts coming in 2024 first half. Markets look to the future. (Btw, the 11/3 jobs report date is also an H1 Date. Hmmmm …). Big earnings week; folks tired of worrying about a war in the Mideast. Everything is in place for a good week: Morningstar’s chief U.S. market strategist Dave Sekera says the Fed is done hiking, and forecasts the central bank will start to cut the federal funds rate in the first half of 2024. “As we forecast the rate of economic growth to slow and inflation to moderate, this allows the Fed to move to increasingly more accommodative language in early 2024 to prepare the market in advance for when they decide to begin cutting rates,” Sekera wrote. A Fed meeting was by no means the only market-moving event investors were looking at. About 30% of the S&P 500 is scheduled to report earnings this week, among which Apple, McDonald’s and Pfizer will deliver quarterly results. And if that wasn’t packed enough, market players will also be chasing the October jobs report due on Friday. It’s expected to show the U.S. economy added 175,000 jobs last month, according to consensus estimates from FactSet. That will follow a blowout 336,000 job additions from the prior month.

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