Morning started lower and I expect choppy market today. Media (this time Reuters) are again telling us:
“Wall Street’s main indexes opened lower on Tuesday as hotter-than-expected retail sales data stoked worries U.S. interest rates could stay higher for longer, with the Middle East conflict further denting sentiment.”
Once again, worries, fear, shivering is driving the sentiment. Investors are like little Chihuahuas. Always shivering and worried. But indicators are pointing to stronger market today.
As I mentioned yesterday, we were supposed to get September’s retail sales data. As expected, it was strong. Consumers are spending like crazy. And Wall Street, instead of enjoying good, strong economy and consumer, is wobbling about “higher for longer.” We all know that already. Instead of worrying, take it into account.
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