US equity indexes closed a little weak, SPX -3pts (0.1%) at 4183. Nasdaq comp' -0.3%. Dow -0.5%. The Transports settled -0.2%.
SPX - daily5
VIX - daily3
Summary
US equities opened in micro chop mode, but with the SPX printing a new hist' high of 4197. There was further chop into the 2pm press release from Print Central...
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| Powell believes inflation will just be... transitory |
With Powell touting ongoing QE and ZIRP, the SPX pushed to 4201, if settling at 4183.
It should be clear, no matter how high inflation climbs this summer/autumn, the Fed will deem it 'transitory'.
How the sheep/serfs react to distinctly higher prices in the shops or at the gas station, will be fascinating to see.
Volatility was naturally subdued, the VIX settling -1.6% to 17.28.
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Goodnight
from London
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