FTDS - All-Stars Driving Index And Portfolio Performance

2024-06-17 10:30:00 ET

Summary

• A flat monthly CPI number (year-over-year unchanged at 3.3% inflation rate) helped prompt a drop in the 10-year yield and fuel enthusiasm that we may see an early fall (September) rate cut.
• Due to the perception that the month-over-month inflation numbers within the CPI were flat and inflation is trending down, the bond market rallied this past week.
• The momentum in technology stocks is holding up the markets. Semiconductor and AI stocks just keep on moving up.
• Taking a look at the S&P 500 All-Stars and what is currently driving the index year-to-date performance, which is up as of the close on Friday approximately 14.1%.

By Donn Goodman

Welcome back, loyal readers. Glad to have you with us.

We consider those of you who follow us and use our investment tools, models and useful trading ideas to be among our own All-Stars Winners! And we appreciate you!

This week’s economic backdrop

It was an interesting week that began with updated inflation ((CPI)) news. A flat monthly number (year-over-year unchanged at 3.3% inflation rate) helped prompt a drop in the 10-year yield and fuel enthusiasm that we may see an early fall (September) rate cut.

Couple that with dovish rhetoric from the Federal Reserve midweek, and the odds of seeing such a cut as early as September appear to have increased to a better than 60% chance....

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