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10 Minutes Weekly Picture: Economic Slowdown Worries Remain In Play As Fed Fund Rate ‘May Need To Go To 5-7%’, Trading Ideas: $MNSO $MMAT $U $RPAY (21st November 2022 – 25th November 2022)
By Jeff Sun Trading  •  November 20, 2022
Note: NYSE will be closed on 24th November (Thursday) for Thanksgiving Day, and closing early on the following day (Friday) at 1:00 p.m. ET All of the major averages posted losses for the week. The Dow ended 0.01% lower. The S&P 500 lost 0.69% for the week, while the Nasdaq ended 1.57% lower. Trading reflected some consolidation efforts and growth concerns in a slowing economic environment as Fed officials have reiterated that they are not done yet raising rates. St. Louis Fed President Bullard acknowledged that the fed funds rate is not yet at a sufficiently restrictive level and that it may need to go to 5-7% in the battle to get inflation under control. Wednesday’s Federal Reserve meeting minutes will be the main highlight of a holiday-shortened week. The most important shopping period of the year kicks off on Friday in what will be a key test for
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By Jeff Sun Trading
Jeff Sun is a independent trader, an accredited investor (Securities and Futures Act, Singapore), and an avid private/public equity real estate, and specialist builder engineering firms investor, with Certified Financial Technician (CFTe) accreditation by the International Federation of Technical Analyst; and graduand of (with distinction) Institute of Trading and Portfolio Management.
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