Hey friend,
This morning’s reports showed solid growth, but inflation is still running warm.
The economy grew at a 3.4% annual pace in the third quarter, beating the 3.1% forecast.
Core PCE inflation, which excludes food and energy, rose 0.3% in September and 3.1% from a year earlier – both in line with forecasts.
Meanwhile, new jobless claims came in at 194,000, below the 200,000 expected.
Growth is holding up, but these numbers give the Fed little reason to declare victory over inflation.
Let’s see how the markets have been moving.
The Daily Direction
Note: Stocks closed slightly higher yesterday but have been mixed today. However, the small-cap Russell 2000 has seen a resurgence – sending all its directions back into upward territory.
The Daily Nugget
You don’t need to figure out the whole market.
Most traders think they need to figure out the whole market before they can make a good trade.
Where are rates headed? Will earnings hold up? What happens after the election?
There’s always one more question to answer.
But you can have a smart view on all of that and still buy the wrong stock at the wrong price.
A trade needs more than a good story about the economy.
You need a setup you understand, a price worth paying, and a clear point where you’ll get out if it fails.
That’s a much smaller job than trying to predict everything.
The wider market still affects your trade. A rough market might call for a smaller position or more patience.
But reading ten more forecasts won’t fix a bad entry or a loss you can’t afford.
Spend more time on the decisions you can control.
You’re placing a trade. You don’t have to solve the economy first.
The Traders Agency Team
P.S. You don’t need another pile of market news. You need help turning it into useful trading decisions.
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