Before we dive into the market stuff…
Here’s another snapshot from my trip out west.
Took this shot during a hike out near South Fork, Colorado — wide open space, blue skies, and not a chart in sight.
Just the kind of reset I needed before diving back into this week’s madness.
Just the ground in front of you and a little sun on your back.
Now that I’m back in the saddle this week… the quiet’s over.
Why the Market’s in a Bad Mood Today
Today is a classic case of “good news is bad news.”
- PCE (inflation) came in higher than expected
- Jobless claims were lower than expected
- And Chicago PMI jumped, too
All that adds up to one thing: The economy’s still humming along, so the Fed can’t cut rates.
And the market hates that.
Stocks pulled back on the news. Bonds and gold are off too.
Traders wanted a signal that rate cuts were on the table — and they didn’t get it.
What I’m Watching Tomorrow
Friday could be even messier.
Here’s what’s coming:
- Non-Farm Payrolls (NFP) in the morning
- Another round of tariffs take effect — a.k.a. what I’m calling Liberation Day 2.0
If a country doesn’t have a deal, they’re getting slapped with new tariffs.
So far, only Mexico got a 90-day reprieve from Trump.
The market’s nervous — but S&P futures (ticker /ES) are still holding above 6400 for now.
That’s the line I’m watching.
And with all this hitting in the same 24-hour window… I’d stay cautious.
Stay sharp,
— Geof
