The market is reacting negatively this morning to extremely poor ISM manufacturing data.
Here’s the TLDR:
Demand fell, inventories rose (due to unsold stock), and prices *rose* (due to labor and shipping costs). In essence, this is stagflation (higher prices in a stagnant or slowing economy).
The Fed’s worst nightmare.
Any chance the fed backtracks on its proposed rate cuts? 😂
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Not if unemployment keeps going up.
No
We know what that means for equities don’t we
