US equity indexes closed very mixed, SPX +44pts (0.7%) at 5973. Nasdaq comp' +1.5%. Dow u/c. The Transports settled -1.4%. R2K -0.4%
SPX - daily
VIX - daily
Summary
US equity indexes opened on a positive note, and whilst the Dow, R2K, and Trans quickly turned red, whilst the SPX and Nasdaq pushed upward.
With the Fed cutting rates by -25bps to 4.50-4.75%, the Powell duly appeared at 2.30pm...
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| #everythingisfine |
... as he effectively touted #everythingisfine , whilst still arguing it was necessary to cut rates.
The late afternoon saw considerable chop, SPX printing a new hist' high of 5983, and settling at 5973.
Volatility was ground lower, the VIX settling -6.6% to 15.20.
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Goodnight
from London
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