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The Uptrend Continues

Daily Recap

It was generally a bullish day for stocks, although the action was mixed ahead of important central bank meetings. The Fed's FOMC will meet this week, with the latest decision on interest rates due out Wednesday. It's largely expected that the Fed will raise rates by a quarter point. The European Central Bank and Bank of England also hold policy meetings on Thursday, though no major action is expected from either central bank.

 

Here in the U.S. it was tech stocks that led the market higher, causing the Nasdaq to rise 0.51%. The Industrials rose 57 points (0.23%) while the broader S&P 500 climbed 0.32%. Strength there was offset by weakness in the Transports (down 0.30%) and small caps (Russell 2000 down 0.12%).

 

Overseas markets were once again mixed, with Europe heading lower (except for the UK's FTSE which rose 0.80%), while Asia moved higher. The damage in Europe wasn't significant, with the Stoxx 600 only falling 0.05%. The ... Log in or subscribe to continue reading.


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