US equity indexes closed significantly higher, SPX +54pts (1.5%) at 3789. Nasdaq comp' +2.5%. Dow +1.0%. The Transports settled +1.1%. R2K +1.4%.
SPX - daily
VIX - daily
Summary
US equities opened broadly higher, and then naturally slipped into a holding pattern ahead of the Fed... with Powell duly appearing at 2.30pm...
After all... who could possibly have seen higher inflation coming, after breaking the global supply chain via the C19 mandates, and then printing trillions out of nowhere?
The late afternoon saw some wild swings, if ending on a positive note.
With the Fed out of the way, volatility dropped, the VIX settling -9.4% to 29.62.
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Goodnight
from London
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