FYI: After initially rallying nicely on Janet Yellen’s leaked speech, the market did an about face mid day as the Fed VP also came out with a hawkish tone, and sold off almost all those gains as the S&P 500 finished with a 0.16% loss and the NASDAQ a 0.13% gain. This is the second day of “volatility” after nearly a month of none. It is still amazing to see the market fret about a potential 0.25% rate increase, some 8 years into ‘recovery’. Sad but amazing. Yellen didn’t provide any specific timetable for a rate increase during a speech at the Kansas City Fed’s annual retreat in Jackson Hole, and Wall Street, anticipating a decidedly more hawkish posture from the Fed boss, sent shares higher after a brief, initial knee-jerk move lower.
Regards,
Ted
https://www.stocktrader.com/2016/08/26/market-recap-aug-26-2016/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+Stocktrading101+(StockTradingToGo)
