Today's Heads-Up
The Nasdaq-100 bounced back nearly 1.6% overnight, but don't mistake that for relief—the Fed just tightened policy and signaled more moves are coming. Higher rates are supposed to cool inflation, which sounds noble until you remember that rising borrowing costs tend to squeeze growth stocks hardest. The real tension here is whether this rally represents genuine conviction or just traders buying dips before the next round of hawkish rhetoric hits.
On This Day in History
Fifteen years ago today, the U.S. military formally dissolved its long-standing restriction on openly gay and lesbian personnel, marking a seismic shift in institutional policy. The change arrived after decades of advocacy and legal battles, finally letting service members live authentically without fear of discharge. It was less a celebration than a quiet admission that prejudice had no place in an organization built on merit and readiness.
The Takeaway
The market's quick 1.6% jump after tighter monetary policy is a textbook reminder: headlines grab attention, but your edge comes from reading what the crowd missed. Rate hikes usually mean pain eventually—don't confuse a bounce with permission to ignore fundamentals.
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