Tom Lee, Gormond at MorganStanley, feel economy (earnings) has bottomed. 10% of the S&P are maki

Jun 17, 2023
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Tom Lee, Gormond at MorganStanley, feel economy (earnings) has bottomed.

10% of the S&P are making 52-week highs, highest since April 2022. Average 14-day RSIs are at about 60 (normal is 50), highest since summer 2022, which means the average stock is in breakout mode. Russel is performing. - Josh Brown

Interest rates are peaking (maybe 2 more 25basisPoint hikes left, but market sort of seems to not think so).

Income growth remains high at 5-6 percent. Unemployment low.

Manufacturing is growing a bit. Housing seems to be rebounding a bit.

Regional banks are picking up their lending - Bob Elliott

Gundlach said that although jobs were up, hours worked were somewhat down. He also thinks that be cause Fed went 25 50 75 50 25 and this time 0, they're unlikely to bounce. But they're basically projecting two more 25 point hikes (and perhaps break something).
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Tom Lee, Gormond at MorganStanley, feel economy (earnings) has bottomed. 10% of the S&P are making 52-week highs, highest since April 2022. Average 14-day RSIs are at about 60 (normal is 50), highest since summer 2022, which means the average stock is in breakout mode. Russel is performing. - Josh Brown Interest rates are peaking (maybe 2 more 25basisPoint hikes left, but market sort of seems to not think so). Income growth remains high at 5-6 percent. Unemployment low. Manufacturing is growing a bit. Housing seems to be rebounding a bit. Regional banks are picking up their lending - Bob Elliott Gundlach said that although jobs were up, hours worked were somewhat down. He also thinks that be cause Fed went 25 50 75 50 25 and this time 0, they're unlikely to bounce. But they're basically projecting two more 25 point hikes (and perhaps break something).
Tom Lee, Gormond at MorganStanley, feel economy (earnings) has bottomed.

10% of the S&P are making 52-week highs, highest since April 2022. Average 14-day RSIs are at about 60 (normal is 50), highest since summer 2022, which means the average stock is in breakout mode. Russel is performing. - Josh Brown

Interest rates are peaking (maybe 2 more 25basisPoint hikes left, but market sort of seems to not think so).

Income growth remains high at 5-6 percent. Unemployment low.

Manufacturing is growing a bit. Housing seems to be rebounding a bit.

Regional banks are picking up their lending - Bob Elliott

Gundlach said that although jobs were up, hours worked were somewhat down. He also thinks that be cause Fed went 25 50 75 50 25 and this time 0, they're unlikely to bounce. But they're basically projecting two more 25 point hikes (and perhaps break something).

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