Crude Carnage & A Confident Consumer Send Stocks Lower, USD Higher

Only one possible clip for today… (RIP)…

 

Despite crude's collapse, Trannies managed gains on the day as big tech weighed on the rest of the indices…

 

Standard 330ET Ramp was in evidence, pumping to VWAP on another dismal volume day…

 

VIX hovered between 13 and 13.5…

 

But from Yellen, it's mixed with Small Caps and Trannies green…

 

Notably the "Good news" in this morning's confidence data was bad news…

 

Oddly rate hike odds fell again today…

 

Treasury yields ended the day very modestly higher (though 2Y ticked lower)…

 

The USD Index rose for the 8th day in a row (longest streak since July 2014)… Yen was the biggest mover as calls for direct intervention were spewed…

 

USDJPY soared (Yen weakness) to a 103 handle – dragging Nikkei 300 points higher… but US equities gave up the Yen carry trade…

 

The strong USD sent commodities lower across the board…

 

Gold was clubbed lower into the close…

 

The Bloomberg commodity index fell for the 5th day in a row with all 24 major commodity futures in the red today…

 

Oil prices continued to plunge despite – *STORMS HAVE SHUT IN 22% OF GULF OF MEXICO OIL OUTPUT, U.S. SAYS – With API inventories due tonight…

 

Charts: Bloomberg

via http://ift.tt/2bTLBSL Tyler Durden

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