Watching TOP post-earnings, and broader market's CPI reaction
Definitely got $TOP on the radar after its earnings beat. The stock is up to 11.02 today, which is a nice bounce from yesterday's close, but the range has been pretty wild between 10.82 and 11.34. I'm curious to see if this momentum holds or if it's a typical post-earnings fade once the initial excitement wears off. Will be looking for some consolidation around these levels.
On the macro front, the CPI data this week felt like it set a bit of a tone for the broader market, though not as dramatic as some expected. It's got me thinking about how much of the Fed's future decisions are already priced in, and whether there's more room for upside or if we're in for a period of chop while the market digests the inflation outlook. Keeping an eye on sector rotations, especially anything tied to consumer discretionary spending, as that could be a good tell for sentiment.
I'm newer to this, but is the CPI reaction more about the immediate sentiment or does it often set a trend for the next few days for stocks like TOP? Trying to figure out how to weigh those macro events.