CONFIDENCE RESET. The Stock Market held up today despite Jerome Powell delivering a hawkish update today in regards to the recent data. Powell said that the data does not give him confidence that the Fed is reaching their inflation target. A much more different tone than he has struck in regards to the other data. This got the markets moving today but despite the hawkish undertones, the move wasn't big and the market held on. The S&P 500 did hit new lows of the month again today so despite the market still being elevated, everyday we are slowly starting to see evidence of rates and poor data slow the market down. The real question moving forward is if the data will drive more hawkish expectations and if if Jerome Powell will continue to deliver a hawkish message like he did today. After this brief market recap and stock analysis, I go over my portfolio and 3 stocks for tomorrow. I go over BAC stock & MS stock and explain why the bank earnings have been so attractive and what I am waiting for before their next big move. Then I go over JWN stock and explain why I decided to trade it today. Finally, I go over ARM stock and explain what to watch leading into earnings with all the analysts starting to roll out their upgrades.



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