Wednesday 13 December 2023

Powell Wednesday

US equity indexes closed significantly higher, SPX +63pts (1.4%) at 4707. Nasdaq comp' +1.4%. Dow +1.4%. The Transports settled +1.3%. R2K +3.5%

SPX - daily

VIX - daily

Summary

US equities opened broadly flat, saw a push to 4655, and then cooling to 4643 ahead of the Fed.

Equities saw an initial spike on the 2pm press release, and built further gains when Powell appeared at 2.30pm. The SPX printed 4709... just 109pts shy of the Jan'2022 historic high, and settling at 4707.

Volatility was mixed, the VIX printing 12.46, a flash print of 11.82, and settling +1.0% to 12.19. 


Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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