Stocks Analysis by Ed Yardeni covering: S&P 500. Read Ed Yardeni's latest article on Investing.com
prices jumped yesterday. In Washington, a senior White House official said the US is actively preparing to defend Israel against another direct missile attack by Iran.
The markets' initial reactions moderated by early afternoon after what seems to have been a limited strike on Israel by Iran with no serious casualties. For now, we are sticking with our subjective probabilities: 50% Roaring 2020s, 30% 1990s-style meltup, and 20% reprise of geopolitical turmoil reminiscent of the 1970s.ticked up in August, while quits fell. The national M-PMI remained weak in September. Construction spending unexpectedly fell in August amid a sharp drop in outlays on single-family housing projects.
He also acknowledged that upward revisions in personal income last week meant that there is no need for the Fed to rush cutting rates. That's been our position all year. Here's our quick take on yesterday's data:The hires and quits rates both fell, as expected based on the decline in the"jobs plentiful" series from The Conference Board's consumer confidence survey.
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