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Still Time for the Cyclicals?

Daily Recap

Muted trading action today left most averages higher, but just barely. The narrow trading range is being attributed to traders not wanting to make large bets one way or the other ahead of the Fed's policy decision tomorrow. It's still expected that the Fed will leave rates unchanged, but begin the unwinding of their balance sheet.

 

The Industrials managed to eek out another new high, climbing 39 points to 22,370. The Transports headed the other way, down 0.08%, while the Nasdaq and S&P 500 both rose roughly one tenth of one percent.

 

Overseas markets were mixed, as the Stoxx 600 rose 0.04% and the Europe Dow climbed 0.21%. Over in Asia, most indexes were in the red with the exception of Japan's Nikkei, which was up a massive 1.96%. The Asia Dow climbed 0.35% and the Global Dow rose 0.43%.

 

Bonds here in the U.S. sold off yet again, as the yield on ... Log in or subscribe to continue reading.


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