That was some rally
Stocks had some difficulty picking a direction in early trading, with the major indices opening higher but drifting into negative territory by mid-morning.
Read MoreInitial reaction to Fed and press conference
As our earlier post highlighted, the Fed raised rates 50-basis points and announced their balance sheet reduction plan.
Read MoreFed hikes 50bp as expected
At the May meeting, the FOMC authorized a 50 basis point hike to the Federal Funds Rate, as had been broadly expected.
Read MoreQuick thought on QT
I have had a few questions about our expectation of what the reduction in the Fed’s balance sheet (QT) might mean. While QT did have a significant impact in…
Read MoreVideo – The Fed, the market & our playbook
In this short video we highlight what we expect from the Fed, what the market is already discounting, and our current playbook...
Read MoreFewer jobs were added in April, according to ADP
In April, U.S. employers added the fewest number of jobs in the last two years.
Read More% of stocks above the moving averages
The percentage of S&P 500 Index (SPX) stocks trading above the 10 & 50-day moving averages moved higher with yesterday’s 0.48% gain in the SPX.
Read MoreEarly Fed day look
S&P equity futures are trading above Tuesday's close, amidst a negative session in Europe and a lower Asia overnight, with much of the region closed for a holiday.
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