Jerome Powell testified before Congress, suggesting the Federal Reserve Board will vote for and implement an extremely small 25 basis point rate hike later this month.
Inflation is running hot exceeding anything the US economy has suffered in over 40-year highs. HIther prices are showing up everywhere. Rents are up close to 20% year over year and commodity price inflation already underway is accelerating due to Russia’s attack on Ukraine and the resulting sanctions.
Target, the big-box department store earnings beat analysts’ earning estimates, and the company announced ambitious plans to expand their logistics capabilities including big increases in CapEx, but at least one institutional trader is betting against it.
Chinese stocks, which have significantly underperformed US equities over the past 9 months saw some bullish call activity which indicates one institutional trader believes they could rebound and HYG the high-yield bond ETF saw a very large far out of the money put spread, likely a hedge. $URA, $HYG, $ASHR, $STM, and $TGT and viewer question “How to determine if a trade is opening or closing? ”
