Mindblown: a blog about philosophy.
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END OF DAY REPORT MAY 31st EQUITIES, FUTURES & OPTIONS
Dovish talk by Fed officials didnt help stocks today as we await congress to approve the debt deal
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Fed’s Harker (voter) says in the camp that we can ‘skip’ a meeting, it would be a skip not a pause; a pause says that you may hold there for a while and don’t think that we are ready for that
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Fed’s Jefferson (voter) says holding policy rate constant “at a coming meeting” should not be taken to mean rates have reached a peak for this tightening cycle; skipping hike would allow time to assess data
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French President Macron has for the first time called for Ukraine to be granted a NATO membership “path” when asked at security conference in Bratislava, Slovakia, according to FT
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Fed’s Vice Chair (to be) Jefferson Signals Pause on Way But More Hikes Could Follow “A decision to hold our policy rate constant at a coming meeting should not be interpreted to mean that we have reached the peak rate for this cycle,” J “Indeed, skipping a rate hike at a coming meeting would allow the Committee to see more data before making decisions about the extent of additional policy firming.”
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Fed’s Collins (non-voter) says Fed is intent on reducing inflation, it is simply too high
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FDIC adds four banks to its problem bank list now stands at 43 firms worth a total of USD 58bln
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US Chicago PMI (May) 40.4 vs. Exp. 47.0 (Prev. 48.6)
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DAY TRADE IDEAS MAY 31st
Gold shorts certainly worked perfectly on Friday with a $19 drop from the high of the day. Longs at strong support at 1938/34 worked perfectly yesterday as we held above 1930. We wrote: ”Gold remains oversold on the daily chart so a good chance of another bounce from this strong support at 1938/34 to target […]
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MORNING MINUTE MAY 31st EQUITIES, FUTURES & OPTIONS
THE MARKETS HOLD THEIR COLLECTIVE BREATH AS WE AWAIT THE CONCLUSION TO THE DEBT CEILING DEBACLE, WITH CONGRESS STARTING VOTING AT 3:30PM EASTERN TODAY
Got any book recommendations?