Editor’s Note:
This is the Afternoon Capsule that was provided before PCE was released. PCE was released this morning. To see the latest on the PCE release, please see the Morning Capsule that is available to paying subscribers. The Morning Capsule is issued every morning before the market open.
To gain an edge, this is what you need to know now.
Buying Continues
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- In the Morning Capsule, we shared with you three reasons behind the rally in tech stocks:
-
The momo narrative that has taken hold is that the Fed will cut interest rates by about 1% in 2023.