A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 3, 2020.Andrew Kelly/ReutersBullish stock market investors hoping for a dovish Fed pivot shouldn't hold their breath.DataTrek Research highlighted that even if the Fed turns dovish, that's no guarantee the stock market will rally."Let's be careful with the idea that a change in Fed monetary policy alone can mark a turning point for the direction of stocks," DataTrek said.Investors hoping for a reversal in the stock market shouldn't expect a dovish pivot by the Federal Reserve to be the catalyst for a move higher, according to DataTrek Research.The firm told clients in a Wednesday note that while many investors would like to see the Fed pause its aggressive interest rate hikes, which included the first 75-basis-point increase since 1994, prior dovish pivots by the Fed didn't always translate into higher stock prices."Let's be careful with the idea that a change in Fed monetary policy alone can mark a turning point for the direction of stocks," DataTrek co-founder Nicholas Colas said.
A Dovish Pivot By The Fed Is No Guarantee That Stocks Will Exit The Bear Market And Rally, Datatrek Says
mfox@businessinsider.com (Matthew Fox), Business Insider
Wed, 06/29/2022 - 7:14am
Topics: new york stock exchange nyse new york city new york u.s kelly/reutersbullish nicholas colas april september october ultimately november fed funds wall street federal reserve colas business insider new york march fed research datatrek federal reserve colas january guarantee stocks rally bear market policy rate cut similar investors interest monetary turning case recession idea rates careful dot-com point higher hoping direction support earnings corporate half-point
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