Good morning. Investors looking to stay in tune with the current environment must constantly be on the lookout for changes to the outlook for the economy, earnings growth, inflation, interest rates, etc. Cutting directly to the chase, recent economic data suggests that we may (the key word at this point in the game) be seeing a shift in the direction the winds are blowing.
Up until April 29, the stock market had enjoyed a strong tailwind. The economy was improving and concerns about the recent "soft patch" were fading. Quarterly earnings continued to come in above expectations. The Fed remained committed to keeping its ZIRP (zero interest rate policy) in place. Worries about Europe had all but evaporated as the EU/IMF plans seemed to be working. Inflation didn't appear to be much of a threat. The Chinese looked to be walking the economic tightrope well. And even the jobs market
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