Cannot believe my prediction above is exactly being backed up by experts, unfortunately to the detriment of the market. Hang in there longs, I am sure they will figure something out. https://www.cnbc.com/2021/11/29/stock-market-futures-open-to-close-news.html
I know that seems to be the bigger force that's pushing the market down today. That is such a dumb move today considering that the Consumer Confidence from September is already down today showing that people are already slowing down with their purchases which should've been a sign pointing to lower pressure on inflation. You don't need to do more. You don't need to print more but you don't really need to print more even faster. That's the problem that the market is having with his speech right now, it's the "even faster" part. That's how Jay is though. He is a bit slow on the intake of the current development in the market and in the economy sometimes and then he will make adjustments or sometimes someone else in the Fed will adjust for him.
•wow! 10-year Treasure Note futures (ZN) gapped down big after hours (from 131'16 down to 130'12). that was huge (in the normal sense). •from CNBC, "Dr. Eric Topol expects Covid vaccines will protect against severe disease from omicron infection" Dr. Eric Topol told CNBC’s Jim Cramer on Tuesday he believes existing Covid vaccines will offer adequate protection against serve disease for people who get infected by the newly detected omicron variant. In an interview on “Mad Money,” the individualized medicine expert also stressed the importance of receiving a Covid booster shot, imploring eligible Americans to get the additional vaccine dose. “There’s lots of reasons for optimism that this is not some horrible situation that we’re in. The vaccines should hold up against severe disease, especially with people who are boosted,” said Topol, founder and director of the Scripps Research Translational Institute. There’s yet to be a confirmed case in the U.S. of the highly mutated coronavirus variant that was first detected by health officials in South Africa about a week ago. However, some health experts warn it’s just a matter of time before that happens given international travel patterns. Given the number of spike protein mutations associated with the omicron variant, Topol said, “The main agenda here is, how much does it really evade our immune system?” “We are so certain when you get a booster third shot, you get really high levels of neutralizing antibodies and you get broader coverage of those antibodies,” Topol said. “The other thing is T cells. T cells are what’s really protecting us from severe disease, from Covid pneumonia,” he continued. Antibodies and T cells are both part of the immune system’s response to fight infections. “Our T cells are very insensitive, not affected by variants, to any significant degree,” Topol said. “If you just look at the biology, you would be optimistic, really,” he added.
That is a stark contrast to what Moderna's CEO said last night that precipitated the HUGE drop in the futures overnight "I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to . . . are like, ‘This is not going to be good’.” https://www.ft.com/content/27def1b9-b9c8-47a5-8e06-72e432e0838f I guess this CEO didn't talk to this Topol guy then. LOL
ZN gapped down just a very very tiny amount (from 130'23 to 130'18) after US Market closed / when the Asian market opened