Stocks down, Energy up, Gold up.
Fed Head Powell speech last night produced nothing new in the way of monetary policy but the stock market reacted in a volatile manner, down, then up, then down, down down.
The market was relatively docile before he spoke but after effects were negative.
Dow Jones -0.75%. SP500 -0.85%. Nasdaq -0.96%. Small Caps -1.55%. Banks -1.33%.
SP500.
Sp500 seems destined to retest the 200-Day MA. If that fails, we may be looking at a bear market correction. But let's cross that bridge if it happens.
Commodities.
Commodities Index. +1.04%. Energy +1.35%. Base Metals +0.11%. Agriculture +0.23%. Gold +1.23%.
The Australian market is well down this morning - more than -1%. Energy is the only sector on the positive side.
No comments:
Post a Comment