“The more information that we’re getting from economic data that puts us in a position to feel more confident that the Fed is going to make a move is clearly going to help this market move higher.” – 01:10
Jonathan Corpina, Senior Managing Partner at Meridian Equity Partners, joins Remy Blaire to discuss the latest developments in the financial markets as we approach key economic indicators and corporate earnings reports.
The pair explore the implications of the recent jobs revisions from the Bureau of Labor Statistics (BLS), which indicated that the economy likely added 911,000 fewer jobs than previously anticipated. This revision has led to speculation about the Federal Reserve’s upcoming meeting and the potential for interest rate cuts, which the market seems to be responding positively to.
As we analyze the trading floor’s activity, we note the significant gains in sectors such as communications services, IT, industrials, and financials. We also discuss Oracle’s recent earnings report, which surprised many due to a notable miss, yet the focus on their AI contracts suggests a promising outlook for future revenue.
Looking ahead, we consider the catalysts that could influence the market as we move into 2025. While the Fed’s potential rate cuts are a focal point, we also highlight ongoing discussions about tariffs, trade deals, and persistent geopolitical risks that could impact market stability. Jonathan emphasizes the importance of monitoring these factors, especially as we approach the next quarter, where profit-taking may occur given the market’s rapid ascent.
We also touch on the current state of the S&P 500, which is trading at record highs. Jonathan shares his insights on the need for stability and the possibility of a market correction if negative headlines emerge. Additionally, we briefly discuss the options market, where we are on the lookout for unusual activity that could signal sell pressure.