2/8/23. Wednesday Morning Finspiration Report.

Dow Jones continues to defy gravity, now up 16 of the past 17 days, but SP500 falls.

Sydney Futures -0.53% suggest the Ozzie market might be a bit soft today.

Dow +0.2%.  SP500 -0.27%.  Nasdaq -0.25%.  Small Caps -0.49%.  Banks -0.99%.

 SP500

SP500 is consolidating in a tight range.  Negative divergences on MACD histogram suggest the Index is headed lower.

Commodities.

Commodities Index -0.53%.  Energy -0.07%.  Base Metals -1.51%.  Agriculture +0.14%.  Gold -1.04%.

Gold remains in a short-term down-trend.

BHP overnight in the U.S. down -2.71%.  Rio -1.47%.  Woodside -1.86%.

The big news after hours is the downgrade by Fitch of the American rating to AA+ from AAA.

According to CNBC:  “In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025,”

Dow Futures are down -0.22%.