In Battle Of Market Influencers, Putin Takes Round 2
- Since the battle for market influence began, Janet Yellen took Round 1 as good news was good news again absent the near-term risk of Fed rate action.
- In Round 2, however, despite ongoing positive economic data, Russia has been accused by NATO and the broad West of an incursion of troops and military hardware into Ukraine.
- Heading into the long weekend, stocks should decline as the risk of a market-moving 'event' weighs heavily. So I'm giving Round 2 to Putin and advising sale of the SPY.