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June 15, 2024 | Tech Talk for Saturday June 15th 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

Investors responded to encouraging U.S. economic news last Wednesday. Core May Consumer Price Index on a year-over-year basis dropped to 3.4%, extending an intermediate downtrend. U.S. equity indices moved higher on the news: the S&P 500 Index and the NASDAQ Composite Index jumped to all-time highs in anticipation of a lower Fed Fund Rate currently at 5.25%-5.50%. Enthusiasm was dampened slightly after when Federal Reserve Chairman suggested that a reduction in the Fed Fund Rate will not happen “any time soon”.

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June 15th, 2024

Posted In: Tech Talk

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