Today Mohamed: Basis Points and Capitol Hill

today mohamed: The index SPX, 0.46% looks ready to have another go at that 3,000 level, which it briefly topped Wednesday, thanks to dovish comments from Fed Chairman Jerome Powell, according to Market Watch. For Thursday, he's back on Capitol Hill where we'll see if he can keep the momentum going for stocks and other assets that have rediscovered their mojo. That's the S&P 500 we're talking about. Give markets what they want and they will ask for more Dovish remarks by Fed Chair Powell do more than solidify very high expectations of a 25 basis points cut later this month. Let's see if the Chair reacts to that today Mohamed A. El-Erian elerianm July 11, 2019 But as investors cheer those new highs, they may also be feeling nervous about the fact some stocks and fixed-income assets appear a bit more costly on that ride higher. They're also encouraging some to project a 50 bps cut. (news.financializer.com). As reported in the news.