Inflation Data Deep-Dive, Understanding Fed's Plan with Powell Sticking Around

• Futures markets are rallying, with Nasdaq up, following mixed mega-cap tech earnings; Alphabet and Amazon saw gains, while Microsoft and Meta experienced declines.
• Recent economic data, including strong jobless claims (189K), 1Q GDP growth of 2.0%, and PCE price indexes in line with estimates, suggests a robust US economy.
• Crude oil prices spiked overnight due to US-Iran tensions but have since fallen, while the FOMC left rates unchanged, with Fed Chair Powell planning to remain until an investigation concludes.

The video analyzes a rallying futures market, driven by mixed mega-cap tech earnings, and a busy slate of economic data. Despite some inflation firming and geopolitical tensions affecting crude oil, the overall sentiment is that the US economy remains strong and growing, with the Fed leaving rates unchanged.