Another Fed Hawk Soils Stock Rally Durability

Last week, San Francisco Fed President Williams said “the rest of the year will be interesting” and that he was inclined to raise rates twice this year. That implied the Fed would liftoff with rate hikes starting in September. Today, Fed Governor Powell indicated the chances for liftoff were 50/50 for September, and that he would hike in September and in December. Friends, your long awaited Greece resolution-driven rally should be short-lived here as focus turns back to the Fed before long. See more on the Fed hawk's impact on stocks. Article interests Wells Fargo (NYSE: WFC), PNC Bank (NYSE: PNC), Morgan Stanley (NYSE: MS), Bank of America (NYSE: BAC), PowerShares QQQ (Nasdaq: QQQ) and more.

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