The equity market showed some modest disappointment that Fed Chair Jerome Powell didn’t offer more of a dovish narrative but quickly shrugged off the disappointment and hung onto gains. It was the fifth consecutive higher close for the S&P 500, all records.
S&P 500 +0.1%Nasdaq Comp +0.1%DJIA -0.1%Russell 2000 -0.5%Toronto TSX Comp -0.4%
Tomorrow features the second day of testimony from Powell but that’s usually a repeat of the same themes. It looks like we will have to wait until Thursday to get some market-moving data.
Meanwhile, tech stocks continue to bounce around and it was Nvidia with a 2.5% gain today and Tesla continuing the short squeeze, up 3.7%.
This article was written by Adam Button at www.forexlive.com.
