Nasdaq Composite in particular taking off by leaps and boundshighlights the top themes and takeaways from Thursday's session, including the prospects of disinflation, an interest rate cut that could come in September, and the contrast between Magnificent Seven tech stock earnings.Us stocks ending the day higher with the Tech revival and Powell pointing to a possible September rate cut here with the trading day takeaways.
I think one of the broader takeaways for me here was it just felt like a little bit of a sentiment shift for big tech over this draw down Over the last month, it didn't seem like there was a lot of people saying The unwinding is unnecessary.This felt like one of the first bigger calls of OK, maybe we've sold enough, and I'm starting to get interested in where the stock is trading right.
So I think we're still a little bit of a wait and see overall on where that story sits, but I want to flip back to our second take away.We went tech first, but one thing that stuck out to me from what our Fed chair, Powell said.That was kind of the key takeaway, I think, for markets. The blue and red lines hadn't followed that, and the question was, we know eventually it's going to happen.And in the most recent inflation data, we started to see that.
So you get that part of the disinflationary trend too, brings us to the point where you wonder, why didn't they cut today, right, Which I think some of the reporters asked.
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