Tech Stock Two-Step, Slight Risk Recovery and Fed Cut Likely a Lock (E242)
Description
DoubleLine Portfolio Manager Eric Dhall and Fixed Income Allocation Strategist Ryan Kimmel recap a mixed performance for markets in November, with the S&P 500 ticking up slightly despite a rough run for tech stocks. But that same sector experienced a bit of a bounce back amid a risk revival in the first week of December (2:20 ), which also included a strong rate rally on the front end of the interest rate curve heading into a likely Fed cut next week (3:30 ), a healthy run for commodities (5:22 ) and more volatility for Bitcoin (6:05 ). Over in Macro Land (9:26 ), the week’s prints included a split picture on ISM PMI manufacturing and services data, a soft ADP labor print (10:38 ) and a consumer sentiment report that underscores an optimism gap between survey responses and hard data (13:39 ). Next week (16:50 ), the FOMC will hold its final meeting of 2025, with futures markets forecasting a 95% chance for another rate cut.
United States
