Merck on Major Support Zone
Merck has undergone a 26% consolidation since its June highs and has now reached a major swing support zone between 99.14 - 105.37. This level will be crucial to watch for potential support. Source: Bloomberg
TRUMP LIKELY TO LET POWELL TO SERVE OUT TERM UNTIL MAY 2026
Source: CNN
Fed cuts rates by 25bps in unanimous decision as expected. So what did the Fed do?
👉 FED LOWERS BENCHMARK RATE 25 BPS TO 4.5%-4.75% RANGE 👉 FED SAYS RISKS TO GOALS REMAIN 'ROUGHLY IN BALANCE’ 👉 FED: LABOR MARKET CONDITIONS HAVE 'GENERALLY EASED' No dissent on this rate-cut decision. 🚨 Key changes: - Most notably, removing language that Fed has "gained greater confidence that inflation is moving sustainable toward 2 percent". - Adding that labor market conditions have "generally eased" since earlier in the year, replacing "job gains have slowed". Source: Bloomberg, www.zerohedge.com
FLOWMAGEDDON: A Trump-inspired gusher of cash is flowing into risk-on ETFs, +$22b in one day is absurd, that is normally a good WEEK.
YTD net flows now +$856b, (55b away from annual record) and the rolling 1-year has passed $1T Source: Eric Balchunas, Bloomberg
Productivity
Source: SeekWiser
Quote by Nassim Nicholas Taleb
Source: Strati Georgopoulos
Bitcoin priced in Gold is still 23% away from the all-time high.
FOMO starts at $90K 🤑 Source: Bitcoin Archive
Following the election, the SP500 typically rallies through inauguration day before moderating.
Source: Bloomberg, Macrobond, Mike Zaccardi, CFA, CMT, MBA, The Daily Shot
