Analyst: Initial data may be a sign of a soft landing

On August 8, Wasif Latif, President and Chief Investment Officer of Sarmaya Partners in Princeton, New Jersey, stated that the number of initial applications was lower than expected, so the market seemed to be pleased. At least what makes the bulls in the market happy is that this could be a sign of a soft landing. This is not a significant data point; more impactful data are last Friday's unemployment rate and next month's unemployment rate. This is just one single data point which might be seized upon by momentum traders and algorithms for their operations.