The strength in bank stocks in front of the Fed meeting is an indication there isn't real concern about an inverted yield curve.
It is going to be hard for the bears to gain much traction right now, so build gains while you can by focusing on stock picking.
I would expect some tough sledding over the next day or two ahead of Wednesday's FOMC policy meeting.
A monthly survey from the University of Michigan shows that consumer confidence improved faster than expected last month, even as a separate Federal Reserve report shows that manufacturers are mired in a slowdown.
The Federal Reserve, led by Chairman Jerome Powell, is widely expected to leave interest rates unchanged at its meeting next week.
U.S. retail sales excluding autos slipped by 0.1% in February, Bank of America says in a report that cited the bank's own credit- and debit-card spending data. The decline was partly caused by delays in tax refunds, which hit low-income households especially hard.
New home sales in the U.S. totaled 607,000 in January, down from 652,000 in December, the Census Bureau reports. The drop was steeper than projected by economists, who had estimated January sales at 620,000.
Look no further than Europe for why the Fed has make this shift.
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