Hey, Ross here:
There is almost zero chance that the Fed will cut rates in its monetary policy meeting this week.
Still, markets have been rising. A big reason? Take a look at today’s chart.
Chart of the Day
This is the latest “scorecard” for earnings season, where about half of all S&P 500 companies have reported earnings so far.
Currently, 77% of companies have beat earnings estimates which is above the 10-year average. Companies are also reporting earnings that are on average 8.4% above estimates – which are also above the 10-year average.
And when we look at this in a broader context of sticky inflation and a supposedly weakening economy…
We can tell which way the market’s wind is blowing. I explain more in the Insight of the Day.
Insight of the Day
When “contrarian” positive data is causing markets to rise, you can gauge which way the wind is blowing.
Sticky inflation means the Fed may not cut rates for months. On top of that, there is a good chance Powell will strike a hawkish tone in the post-meeting press conference.
Meanwhile, the recent GDP data came in way below expectations – raising fears of a slowing economy.
Earnings season has so far provided “contrarian” positive data to counter all this negativity…
And the market has moved upwards in response – even despite the negative backdrop.
This tells me the market’s wind is – at least for now – blowing upwards…
And we should take advantage of it.
That’s why, in just a few hours at 11 a.m. Eastern later today…
I’m going LIVE for a masterclass that will allow you to target the biggest fastest moves this earnings season…
By positioning yourself in the stocks that those “in the know” are also betting on.
I’ll explain everything in the masterclass – as well as highlight an incredibly fast-moving opportunity you might want to move on immediately.
So, if you haven’t already, make sure you click here to guarantee your spot for my masterclass later…
And watch out for the login details in your inbox shortly.
I’ll see you at 11 a.m. ET sharp.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
