Wall Street

Strong Durable Data Supports Further Fed Tightening

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ValueWalk

Selling Rallies, Strong durable data supports further Fed tightening, Oil softens, Gold steadies, Bitcoin weakens – OANDA Wall Street is poised for a drawn-out period of sluggish economic activity and that has stock traders steadily fading all rebounds that emerge. Today’s volatile durable goods order reading was rather impressive and while it is only one reading, it suggests the economy is still chugging along and could probably stomach more Fed rate hikes than are being priced in. With a bear market likely at the end of 2023, it is hard to be optimistic about the second quarter rebound that …

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