Final Tally: Bulls Awaken as John “Revere” Williams Shouts: “The Rate Cuts Are Coming!”

If you take a look back in history (puts on Brofessor glasses), there are countless moments where one quote from an important person completely flipped the script.

And I’m not talking about the time Herbert Hoover said the economy had turned the corner right before the Great Depression got even more depressing… 

Or when Ben Bernanke in 2007 calmly assured everyone that “subprime was contained” while Wall Street was reenacting the final scene of Titanic… or who can forget the very important “I did not have sexual relations with that woman” by Bill “can’t keep it in my pants” Clinton.

No, I’m talking about important quotes that changed the course of history. Like Paul Revere’s “The British are coming!” Or when someone at Blockbuster HQ said, “Nah, we’re good, Netflix won’t catch on.”

So what am I getting at?

Well, we had another quote today from one of the unlikeliest people that absolutely saved the market’s a**. Just when the dip continued dipping this morning (when it looked like Wall Street was about to curl up on the couch with a weighted blanket and some chamomile tea) Fed member John Williams stepped to the mic in Chile of all places and gave us something we haven’t had in weeks: Hope.

Here’s what he said: “I view monetary policy as being modestly restrictive (redacted for boringness)… Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral…”

Translation: Daddy Fed might cut again. Get your hopes up, degenerates.

And just like that, the S&P 500 exploded 1.8%, its biggest intraday high in almost six months, the Dow ripped 1.7% higher and the Nasdaq levitated 2%. Nvidia, which got its soul punted into the sun yesterday after chatter about sending H200 chips to China, rose from the ashes with a salty 1%+ bounce like, “Don’t forget who runs this market.”

Meanwhile, over in Big Pharma Wonderland, Eli Lilly just waltzed past the $1 trillion mark… yeah, the first drugmaker in history to do it. If you’re wondering who benefitted most from COVID and the obesity crisis in America… you have an answer.

That said, even after today’s bull stampede, the week is still a big fat L. The S&P is still down over 1%. The Dow is down over 1%. The Nasdaq is down about 2%. And Bitcoin is down more than 10%... back to April levels. It dropped another 2% today thanks to institutions bailing… and a mysterious “Owen Gunden” wallet holding $1.3B since 2011 nuking its bags into the market.

And yet… all it took was one slightly-dovish whisper from John Williams to paint the sh*tty market green to end the week.

It’s pure hopium. But since hopium shoved my portfolio into the green today, I’m not asking to speak to the manager.

So for now? For one glorious day? John Williams became Paul Revere galloping through global markets yelling: “The rate cuts are coming! The rate cuts are coming!” And the bulls believed every word. 

And for those of you keeping up with the Stock Prophet Watchlist exclusively on the official Stocks.News app… we’re still cooking. After stacking 90% in long-move opportunities yesterday, we nailed another big one today. Our FOXX alert at 11:08 a.m. ripped for a 50% long move. 

So yeah, even in a garbage week for trading, I hope you snagged at least a piece of that. Heading into the holidays and December, I’d expect the opportunities to start ramping up fast.

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News holds positions in Netflix, Bitcoin, and Ethereum as mentioned in the article.