Commentary: Paul Ebeling on Wall Street and Beyond

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“More hawkishness from the Fed, high inflation, talk of nucellar war are among the reasons to doubt this US stock market’s V shaped rebound. Now my work says that naysayers risk missing out on a run to a record highs, Tune out the Noise” — Paul Ebeling

The US economy

People have been concerned about the possibility that the economy could soon go into recession. “Recession” has been a trending topic, according to Google Search data, peaking during the wk ending 16th April. Once we are closer to the Fed declaring mission accomplished and, a spike in recession risk is avoided, investors will have a super opportunity to own Cyclicals.

On stocks

As for a Key driving force for stocks over time: Q-1 corporate earnings have been exceeding estimates made by Wall Street analysts.

From FactSet: “For Q1 2022 (with 20% of S&P 500 companies reporting actual results), 79% of S&P 500 companies have reported a positive EPS surprise and 69% of S&P 500 companies have reported a positive revenue surprise.“

Anecdotes coming from corporations have generally been positive too. Shake off the gloom and doom, let this market consolidate.

On the Crypto front

Cryptocurrency trading platform Coinbase (COIN) continues to have a "bull thesis" even during a crypto market sell-off. The bull thesis is the long-term crypto adoption.

Crypto asset manager Grayscale has submitted a letter to the Securities and Exchange Commission (SEC) looking to get the nod for the 1st spot-based Bitcoin (BTC) exchange-traded fund (ETF).

According to a new report Grayscale recently sent a letter to the regulatory agency asking if they can convert their $40-B Bitcoin trust into an ETF.

Have a prosperous week, Keep the Faith!