A lot of sound and fury today for no return… because Powell will save us all tomorrow
Despite modest gains in stocks, Trannies were the only index to get back into the green from Friday’s close; NASDAQ remains the week’s biggest loser…
The S&P 500 has now seen 16 days of plus or minus 1% moves in either direction since the start of February, which compares to only 10 occasions through the 13 months ending in January.
Facebook did rebound from its worst levels of the day but was still ugly…
FANGMAN stocks bounced with Amazon and nVidia back into the green from Friday…
NOTE – Amazon passed Alphabet as the 2nd-most valuable public company behind Apple.
Oracle crashed to its lowest in 6 weeks…
GE lowest since Sept 2009
But bank stocks bounced back today…
So much for rotation to value as FB dumped…
Vol fell on the day but remains elevated to Friday’s OPEX close… with Nasdaq vol the biggest riser on the week…
Treasuries were sold all day.. ahead of tomorrow’s FOMC meeting…
Once Asia closed, the USD was bid, erasing yesterday’s losses and then some – to its highest since March 1st…
Dollar strength sent PMs and copper lower but crude spiked over 2% on the day..
Cryptos extended their gains today as the G-20 statement confirmed rumors of no looming global crackdown…
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