Rate cuts, market up. No rate cuts, market up.

Three rate cuts were promised for this year. Market shot up. By now, it’s obvious the three cuts won’t happen this year.

Yesterday’s Fed meeting was all about “how many cuts this year”. None were promised. Yet, the narrative pushed by the media was “no rate hikes”, as if that was ever on the table. 🤦‍️

On the magnificent 7 earnings front: TSLA had the worst earnings in 12 years, missing everything. AMZN lowered guidance. AAPL iPhone sales dropped 10%. But it was all about an empty statement about maybe making cheap cars in 2025, which has no guarantee. And buyback, which was huge by AAPL. And META added a dividend in their last earnings, so forget everything else. All shot up big.

With inflation remaining steady, and debt reaching ATH, high rates, and layoffs, it feels like a disjointed pump. What are your thoughts?