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Misleading Narrative Takes Hold
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows when ADP data and GDP data were released. Please read the Morning Capsule for details.
- The chart shows when JOLTS data was released. JOLTS shows 10.334M job openings.
- The chart shows when the text of Powell’s speech was released.
- The chart shows that the stock market took off on Powell’s speech.