This space is hosted by StocksOnSpaces
Space Summary
The Twitter space provided a lively discussion on various topics such as muting, introductions, and addressing technical glitches. Participants actively engaged in the conversation, creating a vibrant atmosphere. Technical issues like echoing were initially encountered but were promptly addressed and apologized for by participants. Evan also introduced himself during the discourse, adding a personal touch to the conversation. The space touched on live FOMC analysis, stocks, inflation, economic projections, monetary policy, market momentum, and CPI, bringing forth insightful discussions on the current financial landscape.
Questions
Q: Why was muting important?
A: Muting was crucial to preventing echo issues and ensuring audio quality.
Q: Who apologized for the echo at the start?
A: Participants recognized the echo and expressed regret.
Q: Who introduced themselves as Evan?
A: Evan provided an introduction during the space.
Q: What technical issues were encountered?
A: Technical problems like echoing were faced initially.
Q: How were participants involved?
A: Participants actively partook in the conversation.
Highlights
Time: 00:00:56
Engaging Conversation Introduction, Sets the tone for an interesting discussion and potential Apple-related topics.
Time: 00:01:36
Significance of Economic Projections, Emphasizes the importance of the upcoming summary of economic projections.
Time: 00:02:42
Concerns about Market Sentiment, Expresses worries about the potential impact of Jay Powell's statements on market sentiment.
Time: 00:03:56
Positive Economic Data Discussion, Highlights the discussion around a data point supporting a positive economic narrative.
Time: 00:06:19
Anticipation of Powell's Impact, Discusses the anticipation of Powell's arrival and its potential impact on stock discussions.
Time: 00:14:29
Detailed CPI Analysis by Bank of America, Provides a detailed analysis of recent CPI data from Bank of America's perspective.
Time: 00:18:25
Emphasis on Market Momentum, Highlights the strong market momentum and breadth in current market dynamics.
Time: 00:21:49
Discussion on Fed's Rate Cut Pathway, Key discussion on the Federal Reserve's projected pathway for future rate cuts.
Time: 00:30:02
Insights on Market Reaction Magnitude, Discusses the relationship between data magnitude and its impact on market reactions.
Time: 00:37:33
Encouragement for Strategic Involvement, Encourages strategic participation in the market and maintaining cautious optimism.
Key Takeaways
- Muting was crucial for avoiding echo problems.
- Participants apologized for echoing at the beginning of the space.
- Evan introduced himself during the conversation.
- Technical issues
- such as echoing
- were identified and addressed.
- Active participant engagement was evident throughout the discourse.
Behind the Mic
“`json { "response": "happening again. And so, yeah, monster parabolic move today in so many names. Taiwan semi up 6% apple up another 6%. I mean blue chip names up six, seven, eight, 9%. Small cap names up 20, 30%. It's crazy momentum today. And sure, might some of it get quieted down or calmed down a bit by Powell's sobriety? Absolutely. I don't think that's unreasonable to expect a little bit of selling pressure later in the day regardless of what he says. But zooming out, I mean anybody with even basic technical knowledge go look at the indexes and tell me where's the bearishness, you know, and I don't know. We've been hosting these spaces for over a year. It's been a hell of a year. Obviously done nothing but rally basically since the day stocks on spaces launched. Maybe we need stocks on space is a good omen for the market, but this market is very strong. I think you'd be crazy to fade it. We got about eight minutes until Jerome Powell and the Fed tell us that it kept rates unchanged, but the summary of economic projections comes out. I am excited for that. Quickly. I want to throw it over to Kevin. I know we haven't got to shy and I want to make sure we get him too. But Kevin, I am really curious to hear what your thoughts are around maybe the CPI from this morning. I know we talked about that, but also what we can be expecting here from the Fed, specifically from the summary of economic projections and some changes we might see because over the last couple of meetings, this 02:00 release hasn't really meant much because we know they're not cutting rates. But it will be really interesting to see what their thoughts are on the forward pathway for rate cuts as currently they are still projecting or as of the last one said three rate cuts this year, which we imagine that's going to change. We'll see. But Kevin would love to hear your thoughts on what you're watching for in this 02:00 p.m. release. Yeah, so yeah, real quick. So we had the morning space with CPI, kind of talks about potentially having that flat print for headline CPI kind of playing out. And then there are bits and pieces within it that justifiably I was pricing it. And we also covered at that time the shelter being an interesting point this morning and continuing to be overloaded in the way from the headline, an impact and a significant impact regardless of the CPI print. So quickly, I think what's going to happen here today, that this afternoon is going to be noted that we're going to be is hearing the final decision. Right. So if they keep it the same, which I think that's the base case here, that rates are going to stay pat. And the summary of economic projections is going to essentially is the tell on what they continue to see for inflation for this year. We know growth, GDP growth was revised higher. We know they revised the tightness and strength in the labor market higher. So I think that update maybe won't be as significant or won't have that many changes. I think the bigger change will be that inflationary outlook for the balance of this year and potentially also for next year. One of the questions that I think is important for the labor market once again, too, the Fed has said, give this some patience to see if it actually drops under 3.5%. And everybody wants to know where exactly that is going to land and how that ties into the economic projections from the Fed. I want to quickly give a big shout out to everybody in the space. I know we have 3000 500 people. I recognize it's quite a formidable number for a Wednesday, but we're thrilled to have everyone on board with us. I want to give full credit to my cohost Kevin here. And I know we've got more analysis ensuing right after the announcement. Ashlar do you want to? Yeah, yeah, absolutely. Thanks for warming everybody up and yeah, it's good to see the numbers are growing, man. But yeah, Kev, give us a quick summary of what we've heard so far from morning's CPI print and what we're expecting now. Ashlar happy to, sure. So, absolutely. So, to kind of reiterate what was already covered. Obviously, the print that came in was encouraging. It was better than expected and the components within it that were more solidified. I think when you look at clear trends developing, that the move down in shelter and some of the heaviness with rent and that sort of thing. Furthermore, seeing a deceleration that we wanted to see, which was obviously anticipated. And so that essentially is playing out as we see it and it's also more confidence is emerging right in terms of from the financial community and that you're seeing and stemming from essentially what's going to be that particular point. So I think what we're seeing is look now that that factors in, and we're talking about the economic positioning, what we're seeing so far versus what the expectations are, that we know there is going to be an outflow. And I think that's explained right, we got to have a baseline and let's not deviate too much from it, to avoid any misconception moving forward, right. And as mentioned, it's going to be compelling to see how essentially the CPI kind of played out and now we kind of gearing up for the big news, per se. So definitely poised for not only a increase in optimism, but also keeping in mind prudence around expectations. Absolutely, appreciate it. You know, quickly, Kev, while I have you, one of the things that we both cited this morning is we were watching for any kind of insight into economic projections moving forward and the pace at which this is happening. I know Powell said a few meetings back that any type of raising pause actually could be very well in line with current thinking. So what I'd love to get your thoughts on is short term and longer term targets if you're expecting any adjustment around the medium predictions that we already had earlier noted and also perhaps what that means particularly around the inflation targets. You're listening dollar Yen still hovering positive now at 140 280 level just had a sharp rise here as we get closer to Fed rate decision. Quick 12 point rise now 148 again up 0.3 3% equity futures ahead of the opening here higher as well the S & P 500 up about 4/10 of 1% ahead of the Federal Reserve monetary policy decision announcement. But again, really at the end of the day, I think that's going to be the big one right is looking through and seeing what happens. So, Kevin, what's your quick take? And then shy if you want to jump in. Yeah, sure. So I don't think we'll see too many a drastic changes in the medium term revisions. So the March projection was 2.6%. Once again, wiggle room. The unemployment rate projection I found to be. I would have suspected that they would actually push that up. And they did push up that for 2025, moving that up from 4.1% to 4.2%. I'm surprised they didn't pull that forward. A little bit of strengthening in the labor market or strengthen the labor market. They believe that's going to persist and then they just basically push that out. Interesting. And then outside of that, I don't see any other. Yeah, I don't see any other major adjustment outside of the funds rate projection. March projection was at 4.6. Now the new targets, 4.5. A rapid jump like that. Kind of out of the norm, in my opinion, for when it comes to the Fed, but I don't think we should fret about it. You know, it's reality. I think everybody is under the impression that one was probably the most likely thing that actually happens this year. I think this is a realistic viewpoint from the entire community. Patience here is key and we'll see what comes next. I want to ensure we don't overread into any specific point just yet. And then moving forward, tracking? No, exactly. I was just going to say, we need to keep our eyes open for the long term projections, because those are really going to forecast the broader trend. And always remember the importance of the broader trend. So that's how I see it. " I would just say everyone needs perspective, right? Again, obviously some up and down movements, but the broader trend provides clarity. The incoming data must be analyzed holistically. Now. ")
