A nice bump for stocks on Friday after Jay Powell made some boring comments about the Federal Reserve being data-dependent. Despite all the gloom and doom talk — about how higher rates force long-duration assets down, a regime shift towards value stocks, and how big tech is reaching the end of its high-growth phase — the Faang stocks still matter a lot. The streaming company may yet make a comeback, but its recent troubles have proven once and for all — to Unhedged, anyway — that Netflix is a media company, not a tech company, and does not belong with tech’s big dogs. Read More...
A nice bump for stocks on Friday after Jay Powell made some boring comments about the Federal Reserve being data-dependent. Despite all the gloom and doom talk — about how higher rates force long-duration assets down, a regime shift towards value stocks, and how big tech is reaching the end of its high-growth phase — the Faang stocks still matter a lot. The streaming company may yet make a comeback, but its recent troubles have proven once and for all — to Unhedged, anyway — that Netflix is a media company, not a tech company, and does not belong with tech’s big dogs.
