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December 23, 2023 | Tech Talk for Saturday December 23rd 2023

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line 

Encouraging U.S. economic news released on Friday added to the possibility of the proverbial Santa Claus yearend rally that normally lasts to the first two trading days in January. The November Core PCE Price Index on a year-over-year basis came in at 3.2%, nicely lower than consensus at 3.4%. Equity and bond investors interpreted the news as U.S. inflation pressures are coming down sooner than expected: The FOMC could lower the Fed Fund Rate sooner than the second half of 2024, setting the stage for a sooner rise in GDP growth.

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December 23rd, 2023

Posted In: Tech Talk

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