Stocks Lower as Bad News Becomes Bad News Again

Stocks are set to open lower this morning as markets continue to digest the terrible economic news of the past few days. Retails sales, the Empire State Manufacturing Index and the Producer Price index all came in significantly lower than expected indicating that the economy is steaming toward a severe recession and investors are starting to realize that the much anticipated Fed Pivot won't come in time to stop it. In other words: bad news is bad news once again.

Stocks are up slightly this morning after recent economic data shows that inflation continues to ease as the Fed's rate hikes and quantitative tightening takes it's toll on consumer spending in the US.

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