Asian Defense Stocks in Play (Not Just Europe)

Geopolitical tension boosts Defense stocks globally

Highlights

• Geopolitical tension boosts Defense stocks globally

• The Fed focuses on uncertainty as they pause…

• … while sticking with two cuts for 2025

• Negative guidance keeps confirming the consumer pullback

Key Takeaways

• Powell Focuses on Uncertainty: Nobody was expecting the Fed to trim rates yesterday and it seems perfectly reasonable that Jay Powell appeared noncommittal, at least over the near-term, seeing as he is flying blind at the moment. The most critical number was the amount of times he uttered the word “uncertainty” in his press conference — an unheard-of 19 references, even surpassing the 17 citations in the late January meeting. When he first started to cut rates last September, he mentioned the U-word but once.