For investors who believe it’s all doom and gloom all the time, here’s a little dose of reality today.
The market was up much higher on Friday as investors believe the economy may be slowing down enough to warrant the Fed moderating its pace of interest rate hikes
Data released Friday show that economic activity in the services industry dropped below a reading of 50, which is consistent with a recession in the broader economy.
Also this morning, payroll numbers showed that jobs increased more than the economists expected.
Markets can turn on a dime. Investors who aren’t aware of market direction can miss rallies because they believe the market is still in a decline. I see this all the time, and I understand that, because the news media is relentlessly focused on the negative.
Don’t pay attention to what the media are feeding you! As the saying goes, do your own research and understand how the market’s real direction affects your strategy!