Stock Bulls Balk at Buying the Dip as Fed Creates Confusion
- Positioning is stretched across market, hedging demand muted
- ‘I would be careful,’ Steward Partners’ Eric Beiley warns
A television station broadcasts Jerome Powell speaking after a Federal Open Market Committee meeting on the floor of the New York Stock Exchange on Dec. 18.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Bulls stormed into the stock market at the start of trading Thursday, snapping up shares suddenly on sale less than 24 hours after the Federal Reserve’s hawkish pivot sparked a historic rout.
But as Thursday’s session wears on and equity indexes trim or lose their initial gains altogether, the question is becoming whether this is just a dip — and if investors should be buying in at all.