Wall Street went up yesterday
Tuesday has been a positive day for the US stock market.
All three major US indexes reported profits.
The S&P 500 finished at +0.69%, the Nasdaq ended the trading session at +0.83% and the Dow Jones closed at +0.43%.
The investors' sentiment is Extreme Greed, as indicated in the graph below:
Sentiment indicator – Fear & Greed Index
The market sentiment is 81, in "Extreme Greed" mode, up from the previous days.
It is going up because of the FOMO (the fear of missing out) from investors.
US inflation is slowing down
Yesterday's reports from the Bureau of Labor Statistics showed that the Consumer Price index is slowing down reaching 4% year over year.
That is the lowest inflation rate since March 2021.
What to watch today
The Federal Reserve is going to meet today and will announce the next monetary policy action today at 7:00 PM GMT.
Jerome Powell, Fed chairman, will attend a press conference half an hour later to explain the decision.
Based on the latest inflation data, it is expected a no-rate hike for the first time in 15 months, but it is likely that next month, in July, there will be another interest rate increase.
The Producer Price Index (PPI) MoM for May 2023 will also be published today at 13:30 GMT, and it is forecasted to be -0,1%.
Financial markets could be volatile today.
Portfolio update
I remain neutral and cautious about the stock market, especially now that the investor's sentiment is extreme greed.
I hold long and short stock positions and aim to profit regardless of the market direction.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don't get stopped if there is a correction.
Thank you, everyone. Have a nice day!
Steps to follow to copy my portfolio automatically:
1. Create an eToro account here: https://federicamontella.com/go/etoro/
2. Verify your account and make a deposit of at least 200 USD (you can deposit in any currency, like GBP and EUR)
3. Go to my profile page: https://federicamontella.com/go/etoro-passionforprofit/
4. Start the copy (copy open trades and set the lowest stop loss possible, to allow some movement)
5. Enjoy, it's all automatic. You will make passive income 24/7
Let me know if you have any questions.
Federica Montella
eToro Popular Investor
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The post Inflation is slowing down, FOMO is on the markets and today the Fed's decision appeared first on Federica Montella.
Source: FedericaMontella.com
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