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June 8, 2024 | Tech Talk for Saturday June 8th 2024

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

Focus this week is on news following the FOMC meeting on Wednesday in response to the stronger than expected U.S. May employment report released last Friday: May Non-farm Payrolls and Average Hourly Earnings came in “hotter” than expected. Under these conditions a reduction in the Fed Fund Rate by the FOMC probably has been delayed until at least the September 17th-18th meeting and more likely until the December meeting. The delay will dampen buying interest in U.S. equities and related products during the quieter summer months when returns normally are lower than average.

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June 8th, 2024

Posted In: Tech Talk

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