US equity indexes closed significantly higher, SPX +44pts (1.1%) at 3925. Nasdaq comp' +1.0%. Dow +1.3%. The Transports settled +1.7%.
SPX - daily5
VIX - daily3
Summary
US equities opened on a weak note, but all the bears could manage was SPX 3858, before battling back upward into the late afternoon.
Powell appeared once more...
... and rather bizarrely warned that it might take three, or even more years to see inflation reach Print Central's goal of 2%. We'll probably need to return to this headline sometime this summer.
The afternoon saw the SPX print 3928, and settling at 3925, just 25pts (0.6%) shy of recent historic highs.
Volatility saw an spike to 25.04, but settling -7.7% to 21.34.
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Goodnight
from London
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