US equity indexes closed a little mixed, SPX -17pts (0.3%) at 5018. Nasdaq comp' -0.3%. Dow +0.2%. The Transports settled -0.3%. R2K +0.2%
SPX - daily
VIX - daily
Summary
US equities opened a little choppy, and whilst the market leaned a little weak, it was really just a holding pattern ahead of the Fed.
Rates were naturally left unchanged, although QT was surprisingly cut from $60bn to $25bn (from June onwards).
Equities saw a rally on the press release, and more so with Powell. However... the SPX cooled from 5096 to settle at 5018, for what was another ugly closing hour.
Volatility was ground lower, the VIX settling -1.7% to 15.39.
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Goodnight
from London
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