Ross Gerber Explains Thursday's Rally — 'Market Is Saying No Recession…'
Portfolio Pulse from Bhavik Nair
Wall Street indices rallied on Thursday as the Federal Reserve's aggressive rate hike campaign is believed to be nearing its end. Ross Gerber, CEO of Gerber Kawasaki, believes the market has factored in no recession and the Fed being done. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) closed higher, while iShares 1-3 Year Treasury Bond ETF (SHY) and Vanguard Short-Term Treasury Index Fund ETF (VGSH) also gained.
June 16, 2023 | 1:40 am
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POSITIVE IMPACT
Invesco QQQ Trust Series 1 (QQQ) rose 1.19% as the market rallied on the belief that the Fed's rate hike campaign is nearing its end.
The market rallied on the belief that the Fed's rate hike campaign is nearing its end, which is a positive sign for the overall market and the QQQ ETF. As a result, the QQQ ETF rose 1.19%, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares 1-3 Year Treasury Bond ETF (SHY) gained 0.21% on Thursday as the 2-year treasury yield fell to 4.63% before settling in at 4.66%.
The 2-year treasury yield fell to 4.63% before settling in at 4.66%, which is a positive sign for short-term treasury bond ETFs like SHY. As a result, the SHY ETF gained 0.21%, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) closed 1.24% higher as the market rallied on the belief that the Fed's rate hike campaign is nearing its end.
The market rallied on the belief that the Fed's rate hike campaign is nearing its end, which is a positive sign for the overall market and the SPY ETF. As a result, the SPY ETF closed 1.24% higher, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Vanguard Short-Term Treasury Index Fund ETF (VGSH) rose 0.19% on Thursday as the 2-year treasury yield fell to 4.63% before settling in at 4.66%.
The 2-year treasury yield fell to 4.63% before settling in at 4.66%, which is a positive sign for short-term treasury bond ETFs like VGSH. As a result, the VGSH ETF rose 0.19%, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80