Stocks to buy and those to avoid as U.S. economy runs faster than the Indy 500
Welcome to the month of June and a week that may wake investors from any early summer slumber, as it ends with a fresh update on U.S. jobs.
Stock futures are climbing after the long weekend, and as investors look past Friday’s data showing the Federal Reserve’s preferred measure of inflation surging to a rate not seen in 13 years.
Take note, the U.S. economy is running faster than an Indy 500 race, BTIG’s chief equity and derivatives strategist Julian Emanuel and equity strategist Michael Chu told clients in a note on Sunday. As evidence they cited second-quarter growth at 9%, “a flood of liquidity sending [an] update of the Fed’s reverse repo to all-time highs,” reopenings everywhere and numerous inflation signals.
“Despite the intensifying price and excess liquidity pressures and the historical evidence that sustained periods of Core PCE [personal…