US equity indexes closed a little mixed, SPX -16pts (0.3%) at 5618. Nasdaq comp' -0.3%. Dow -0.2%. The Transports settled +0.4%. R2K u/c
SPX - daily
VIX - daily
Summary
US equities saw a natural holding pattern into the 2pm press release from the Fed.
The Fed cut rates by -50bps to 4.75-5.00%.
On any basis... its to be seen as a sign of panic.
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| Jerome 'Panic' Powell |
Equities initially jumped, with the SPX printing a new hist' high of 5689, but the gains were shaky, with the SPX cooling back to 5615, and settling at 5618.
Volatility was very mixed, the VIX printing 19.39 (skewed due to OPEX), cooling to 17.11, and settling +3.5% to 18.23
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| A fine late summer day |
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| Post full moon |
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Extra charts in AH (usually around 5pm EDT) @
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Goodnight
from London
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