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April 27, 2024 | Tech Talk for Saturday April 27th 2024

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Focus this week in on the Federal Reserve’s decision on interest rates announced on Wednesday at 2:00 PM EDT. Consensus calls for no change in the Fed Fund Rate currently at 5.25%-5.50%. The question is “How long will the Fed maintain this rate?” Release of a slightly “hotter than consensus” March core PCE Price Index on Friday suggests that timing of a reduction of the Fed Fund rate has been delayed until at least this fall.

Better than consensus quarterly results released last week by several large cap S&P 500 companies prompted analysts to raise estimates for the S&P 500 for the remainder of 2024.

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April 27th, 2024

Posted In: Tech Talk

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