Today we got an answer on how much longer the Fed intends to keep its key interest rate super low. In it's statement the Fed put forth that the interest rate would remain low "for an extended period." In Fedspeak, which is derived from legalees, that means that interest rates will remain low for quite some time.
Stocks Mount Late Session Turnaround; Regulatory Bill not as Restrictive
Stocks Poised to Continue Rally; Demand for Risk Weakens Dollar
Retail Sales just came out bullish. Equity markets are soaring. Bonds are breaking. The Dollar is plunging. The market reads this report as good. The key will be to be able to separate the report from the trade. The question is will U.S. investors chase equity market higher or wait for a pullback? Overall, however, it looks like a strong report.
The income statement is where you find all the metrics that The Street loves. It therefore must be the most important financial statement. Not! That title goes to the lowly cash flow statement. Ultimately cash flow is what drives the value of any financial asset, including dividend stocks.
U.S. equity markets are expected to open weaker this morning but off their lows. Last night’s news that China’s inflation was higher than expected, fueled speculation of a rate hike which helped drive down demand for higher yielding assets. The lack of follow-though to the downside has triggered a short-covering rally which is helping to boost equity prices from their overnight lows.
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