Closing Bell: Powell presser pumps up market, Gary Cohn reacts, Big earnings movers 2/1/23
Closing Bell
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The Market's Pricing in a Couple of Cuts
Peloton is trading at about 10% of its peak share price that we saw back in the pandemic peak. David Zervos: I think Jay Powell didn't really pick a fight with this concept that the market's pricing in a couple of cuts after we peek out at five or five and a quarter. He said, you guys are crazy. We're going to keep on keeping on and invoking Paul Volker's statements. And maybe it was just that he's feeling pretty good about not having the Larry Summers' and the Muhammad-Alerians on his back about having messed up so much.
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