The Indexes held major support levels on Fed Chairman Jerome Powell’s statements. Between rising oil prices, fed raises rates and the threat of increased aggression with Russia we rallied and held. This was a broad based rally. If you look at the top 10 sectors of SP500 you will see every single one was up today. Usually Powell throws cold water on the index but today that was not the case. Two key points were the rise of rates and the balance sheet. Powell made it clear that maybe we will only have a 25 basis point rise versus 50 basis points. Also the pairing down of the balance sheet was deemed to be aggressive. Now Powell is saying instead of 12 months , he stated the pairing down of the balance sheet could take 3 years. Both of these were good news for equities. The biggest data point before the March 12th meeting is the March 10th CPI data until then we have two weeks of Jobless claims data starting tomorrow. The estimates are at 226,000
🔥Indexes Rally On Powell🏦
🔥Indexes Rally On Powell🏦
🔥Indexes Rally On Powell🏦
The Indexes held major support levels on Fed Chairman Jerome Powell’s statements. Between rising oil prices, fed raises rates and the threat of increased aggression with Russia we rallied and held. This was a broad based rally. If you look at the top 10 sectors of SP500 you will see every single one was up today. Usually Powell throws cold water on the index but today that was not the case. Two key points were the rise of rates and the balance sheet. Powell made it clear that maybe we will only have a 25 basis point rise versus 50 basis points. Also the pairing down of the balance sheet was deemed to be aggressive. Now Powell is saying instead of 12 months , he stated the pairing down of the balance sheet could take 3 years. Both of these were good news for equities. The biggest data point before the March 12th meeting is the March 10th CPI data until then we have two weeks of Jobless claims data starting tomorrow. The estimates are at 226,000