Quarterly End With Bank Stress Tests and PCE
Second Half of 2024
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Last Week: I closed the WULF leaps for +225k in the big account.
Still a tough start to the $1k challenge. The balance ended at $600 close Friday. A swing trade is in motion.
Relevant Topics, News, and Data:
Consumer Confidence Tuesday
New Home Sales Wednesday
Bank Stress Tests after the bell Wednesday
Durable Goods Orders Thursday
Third print of Q1 GDP Thursday
PCE Friday
Chicago PMI Friday
Main Event is PCE as it is the Fed’s favorite measure rather than CPI. Surprisingly, there are no forecasts on Investing.com except Core PCE MoM which is targeted to lower based on it’s forecast of .1% from .2% prior reading.
Second up to bat is the Bank Stress Tests on Wednesday which I would assume many people will find reasons to be negative. There is a nice support on the markets by Yellen and Powell in my opinion, so whatever the stress tests show will be not that important like normal. Remember banks make up a lot of IWM. Let’s see how IWM’s price action is going into Wednesday close.
Finally, It will be nice to see how GDP plays out on the latest reading on Thursday.