US equity markets in positive mode again 31 Jan
- S&P +11.05 +0.39% at 2833.28
- DJI +230 + 0.88% at 26307.25
- Nasdaq + 42 +0.57% at 7444.77
Different day, but most days the same story as equities post gains once more and continue to defy gravity and rational behaviour but hey, these aren't rational times.
FOMC the focus today with Yellen chairing her last one before handing over the reins to Powell. Plenty of talk that she'll leave a hike present for him and save an difficult decisions on his debut.
I'm not so sure but I remain of the view that what the Fed promises and what the Fed actually delivers are not the same in recent months/years. In any case hikes are largely factored in to the bigger picture.
More FOMC thoughts/previews here
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Yellen - Anything the Fed can do to stop the runaways equity markets?
