Soaring Stocks Break 100-Year-Record Losing-Streak Amid Macro Meltdown Soaring Stocks Break 100-Year-Record Losing-Streak Amid Macro Meltdown US Macro data has disappointed for 6 straight weeks with May set to see the biggest plunge in reported data relative to expectations since the collapse in April 2020 when the economy was effectively shuttered down by the government… Source: Bloomberg But it appears that bad news is good news once again (with ugly data, FedSpeak, and the Minutes all being interpreted as 2x 50bps hikes then pause in Sept... which just seems too easy) as after seven (or eight for The Dow) straight weeks lower for the Nasdaq and SP, this week saw stocks ''dead cat bounce'', soaring higher led by Nasdaq (the worst performer on the downside swing). Nasdaq is up 10% off last Friday''s lows, Small Caps and SP 9% and Dow 8%... Just look at today''s moves, Nasdaq 3%, SP up over 2% all triggered at 0830ET when Core PCE came in as expected (and headline PCE was hotter than expected?!) and then extended gains on the terrible UMich print with inflation expectations hovering at 40 year highs...