US equity indexes closed rather powerfully higher, SPX +102pts (2.6%) at 4023. Nasdaq comp' +4.1%. Dow +1.4%. The Transports settled +1.7%. R2K +2.2%
SPX - daily
VIX - daily
Summary
US equities opened broadly higher, with the market building gains into the early afternoon. Considering it was a Fed day, where the market would normally see relative chop, it was rather impressive.
2pm saw a press release from Print Central...
As expected, Print Central raised rates by +75bps, taking the target range to 2.25% to 2.50%.
Whilst Powell argued he didn't see the US as currently in recession, Thursday morning's Q2 GDP data will likely say otherwise.
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The late afternoon saw initial chop on the FOMC announcement, but then a push upward to break a new multi-week high of 4039. Volatility was ground lower, the VIX settling -5.9% to 23.24.
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Goodnight
from London
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