Four major events over the next 13 trading sessions will be the key catalysts in determining whether this year’s stock-market revival gets derailed or starts rolling again after a February slump.
It all begins Tuesday, when Federal Reserve Chair Jerome Powell delivers his two-day biannual monetary policy testimony on Capitol Hill. With the S&P 500 Index coming off its best week in a month, investors will be searching for any hint on the central bank’s interest-rate hiking path.
“The market is clinging to every single positive thing Powell says,” Emily Hill, founding partner at Bowersock Capital, said. “The minute the word ‘disinflation’ left his lips in a speech earlier this year, the market soared.”
1/2 point rise at the next meeting.
He is no fool who gives what he cannot keep to gain what he cannot lose.