NASDAQ index/other indices rebound higher to start the month of May

The major US indices looked like they may start the month of May off the way they ended the month of April – with declines across the board. The Dow industrial average is down -1.6%. The S&P was down -1.69% and the NASDAQ was down -1.07% in the New York afternoon. However, buyers entered, and erased the declines and closed nearer the high levels of the day.

At the closing bell:

• Dow industrial average rose 84.29 points or 0.26% at 33061.49
• S&P index rose 23.47 points or 0.57% at 4155.39
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index rose 201.39 points or 1.63% at 12536.03
• Russell 2000 rose 18.81 points or 1.01% at 1882.91

The Federal Reserve will meet on Wednesday and are expected to increase rates by 50 basis points.

Since their last meeting decision on March 16:

• The DXY index is up 5.3%
• The 10 year yield is up 83 baais points
• The Nasdaq is down -6.65%
• The S&P is down -4.65%

That is some headwinds for the market, but inflation remains an unknown, housing continues have supply/demand imbalances (although getting better) and the Fed is behind the curve in getting rates to neutral (2% to 2.5%).