Trading while waiting for Powell
Panic is unfolding in Washington as the big picture evolves. Trump is getting close to falling in the toaster. So all eyes are on Powell and I would expect a tight trading range in the S&P of 2815 to 2954 to prevail with a swing point at 288o. In saying this on the trading range, it is interesting that in looking at what I just wrote, that I would call a 139 point S&P range tight. Volatility is catching.
Stakeholder talk is Growing
Yesterdays WSJ story on a Stakeholder strategy versus Stockholder strategy for corporations is a big thing. Take a look at our Framework 2020 section of maybe six months ago where we outlined how this could be an important part of the 2020 election inequality story.