The economist noted in a post on X that the decline in consumers’ expectations of the future condition was due to a “mix of lingering price worries and growing employment income insecurity.”
The latest report comes weeks before the Federal Reserve is set to decide on its monetary policy direction and take a call on whether a rate cut in December is needed.
After last week’s sharp selloff, breadth metrics rebounded significantly across the board on Monday, Nov 24. While the short-term trend flipped positive and major indexes bounced off key support zones, broader participation remains uneven, with longer-term metrics still showing underlying weakness.
In an update on its website, the BEA said that the advance estimate of gross domestic product for the third quarter of 2025 was initially scheduled for release on October 30.
In addition to Huang, Howard Lutnick said that there are an “enormous number of other people” who agree that the U.S. selling AI chips to China should be considered.
After a week of persistent weakness, Friday, November 21 brought a sharp and broad-based rebound in market breadth. However, while the bounce was notable, key structural issues remain unresolved beneath the surface.
On Thursday, November 20, market breadth took another decisive step lower. Selling pressure intensified across the board with weak internals confirming the technical breakdowns seen in major indices like QQQ, SPY, and IWM. Key short-term support levels failed, and breadth readings now reflect a widespread retreat with little sign of internal resilience.
