Fed officials are curbing the rate-cut enthusiasm that Wall Street has embraced. In fact, they are stuck between a rock and a hard place right now. If they cut rates, as many expect, they will be viewed as an arm of Wall Street as they can dictate what they want to happen. If they don't cut, it could send the economy, as well as the stock market, in a downward spiral.
In addition to interest rates, the China-US trade talks are expected to have more answers this weekend. Trump and Xi will meet this Saturday and the markets will react to the result of the meeting. We'll see how things play out before opening any positions for July.
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