Another rate cut

US equity indexes closed broadly higher, SPX +46pts (0.7%) at 6886. Nasdaq comp' +0.3%. Dow +1.0%. The Transports settled +2.7%. R2K +1.3%

SPX - daily

VIX - daily

Summary

Equities saw a natural holding pattern into the 2pm press release from the Fed.
Powell duly appeared at 2.30pm.

You'll miss him... when he's gone in May. 

 
Equities saw a few swings, printing a high of 6900, and settling broadly higher at 6886.  

With the Fed out of the way, volatility dropped, the VIX settling -6.8% to 15.77.

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Pre-FOMC chop

US equity indexes closed a little mixed, SPX -6pts (0.1%) at 6840. Nasdaq comp' +0.1%. Dow -0.4%. The Transports settled -0.5%. R2K +0.1%

SPX - daily

VIX - daily

Summary

US equities saw a day of pre-FOMC chop, with the collective of indexes settling broadly flat. 

Volatility was itself muted, the VIX settling +1.6% to 16.93. 

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A little cooling

US equity indexes closed a little weak, SPX -23pts (0.3%) at 6846. Nasdaq comp' -0.1%. Dow -0.4%. The Transports settled -0.3%. R2K -0.04%

SPX - daily

VIX - daily

Summary

US equities opened fractionally higher to 6878, if cooling back to settle at 6846.

Volatility picked up, but the gain was largely technical, the VIX settling +8.1% to 16.66.   

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