Volatile Friday ahead
During Thursday's trading session, Dow Jones was the only major index to close in positive territory, ending a 10-day losing streak — its longest since 1974.
However, its gain was slim (+0.04%). On the other hand, the losses for S&P500 and Nasdaq were narrow too.
In the meantime, the 10-year treasury yield jumped for a second day and kept stocks under pressure.
The market was cautious ahead of Fed’s preferred inflation data - PCE index.
I half suspect the figure might not be ideal and that Fed already had the numbers in hand before they met 2 days ago, and before Powell came out with a hawkish speech.
To add on, today is witching day. Expect high volatility.
However, its gain was slim (+0.04%). On the other hand, the losses for S&P500 and Nasdaq were narrow too.
In the meantime, the 10-year treasury yield jumped for a second day and kept stocks under pressure.
The market was cautious ahead of Fed’s preferred inflation data - PCE index.
I half suspect the figure might not be ideal and that Fed already had the numbers in hand before they met 2 days ago, and before Powell came out with a hawkish speech.
To add on, today is witching day. Expect high volatility.
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OceansWave : It will be an interesting Friday.. possible chances that US government will shutdown too by end of Friday (US).
Bet Powell had already planned for this as Trump tariff plan is gonna add stress to the US economy.. making the US currency strong is the only options.. so that foreign items they buy will be cheaper through currency and the tariff would not be too big an impact