How six months of doom-and-gloom headlines failed to stop the S&P 500’s climb. Over the past six months, financial markets have delivered one of the clearest cases of price vs. narrative divergence that we’ve seen in years. On the one hand, investor sentiment—measured by news flow and keyword trends—remained deeply negative. On the other, the
Over the past five years, two bellwether indices have broken sharply apart. This growing gap is not just a quirky chart pattern. It’s a macro signal worth dissecting. From Lockstep to Disconnection In the early phase of the post-pandemic recovery (2020–2021), tech stocks and transport companies rose together. E-commerce demand, supply-chain bottlenecks, and fiscal stimulus
This week was defined by a classic macroeconomic tug-of-war, pitting a surprisingly resilient labor market against a Federal Reserve determined to win its long-fought battle with inflation. The Federal Open Market Committee (FOMC) meeting set a hawkishly neutral tone, but it was Friday’s blockbuster jobs report that sent the clearest signal to markets: the path
The stock market is behaving as if Donald Trump’s economic dreams—rate cuts and booming growth—are imminent. The problem? It’s Jerome Powell’s economy, and he’s telling us the exact opposite. The S&P 500 is touching all-time highs, fueled by a narrative of a perfect economic landing. Yet, the data shows an economy grappling with the very