US stocks appear to be consolidating their recent gains as we head into the Fed’s next rate move, the tech stocks have remained the weakest link as Meta Platforms (META US) continues to plumb multi-year lows i.e. when stocks miss badly today’s market “your first loss is often the best loss”.
- Fund managers are short/underweight stocks hence we wouldn’t be surprised to see a relief rally after the Fed hikes rates later this week.
MM remains bullish on US equities into Christmas
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