US equity indexes closed on a positive note, SPX +32pts (0.7%) at 4575. Nasdaq comp' +1.3%. Dow +0.3%. The Transports settled +0.6%. R2K +0.03%.
SPX - daily
VIX - daily
Summary
US equities opened in minor chop mode. There was some moderate cooling into the early afternoon, but with a recovery to break a new intraday/multi-week high into the close.
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| Get down low and whisper... "Its... not... right". |
Biden appeared in the mid afternoon to tout a $5.8trn budget for fy2023. Its pretty safe to round that up to $6trn, if not $7trn, and that doesn't even consider a recession.
Volatility remained subdued, the VIX settling -5.7% to 19.63. For the equity bulls, the VIX back under the key 20 threshold is a very significant achievement, even more so than sp'4575.
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Goodnight
from London
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