I’m flying to Puerto Rico later Friday, so there is no VIP Trade Room — I’ll be back Wednesday, and I hope everyone has a wonderful, long holiday weekend!
Markets are mostly flat as we head into this final trading day before Christmas, and one of the final trading days of 2023!
The biggest economic report of the day, Personal Income and Outlays, came in better than expected. This is an inflation gauge the Federal Reserve watches closely, and the core number came in at 3.2% year over year versus expectations of 3.2% to 3.5%.
We’re in an uptrend and the question for us today is if we’ll stay in the current range, or break out. I don’t believe there will be many sellers today, though, volume will be low.
The fact that we bounced back Thursday after Wednesday’s sell-off is bullish, and I believe we’ll head higher in the near term.
Nike is down over 11% on earnings.
I’ll cover all that and more in this morning’s “Premarket Must Watch” video!
In today’s all-new briefing…
I’ll discuss employment data, why it matters and more!
Roger Scott
Roger Scott Trading
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P.S. As 2023 draws to a close and we edge into the new year, a lot of traders are grappling with uncertainty…
Will we see a gentle market descent — a soft landing? Can rate cuts drive us to new highs? Is inflation ready to make a comeback?
So many questions, right?
How are you feeling about what 2024 might bring?
Anxious? Uncertain?
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