US equity indexes mostly closed on a positive note, SPX +44pts (1.0%) at 4712. Nasdaq comp’ +0.7%. Dow +0.6%. The Transports settled +0.5%. R2K -0.3%.
sp’60min
Summary
closing hour action: minor chop, but leaning upward to break a new intraday high, as s/t momentum continued to tick upward… set to turn positive next Monday.
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… and that concludes the week. Whilst the market did initially struggle to hold gains after the CPI data, with it out of the way (at least for another month!), the market has a clear path into early 2022.
I’m not particularly concerned about next week’s FOMC. Sure… we could cool back 1% or so… if briefly, but the mainstream are now expecting QE taper to end as early as March/April…. with rate hike’1 once the printers are fully spun down.
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notable bank: BAC
Banks seeing some chop. I hold, and should probably add.
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notable bond ETF: TLT
Early gains… turn to minor declines, as yields swung upward.
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notable stock: MOS
World is always going to need fertiliser! I hold the stock.
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Golden sunshine… all along the way. Everyone… have a good evening!
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more later on the VIX and Indexes by 6pm EST