AUTHOR
Mick Weinstein
Mick is the Head of Editorial for Covestor, a financial journalist and online content specialist. Prior to joining Covestor, Mick was for five years the Editor in Chief and VP Content at stock market analysis website Seeking Alpha, where he built the editorial function as the site attracted over 3.5 million unique monthly visitors and developed an innovative platform for intelligent stock market discussion. Mick is a graduate of the University of Michigan, Ann Arbor.
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Companies are putting their public offering plans on hold
The economy seems to be doing just fine, with GDP around the 3% levels to which we had become accustomed, making it unclear why rate cuts are even necessary, particularly in the US.
The inflationary impact of higher energy costs can also tip the economy closer to a recession as consumers may cut back on spending when facing pain at the gasoline pump, making the Fed’s efforts of tightening monetary policy to fight price increases more difficult.
It may heavily sway the next move for the XLK and the Nasdaq Composite.
