S&P 500 Briefs
The S&P 500 is down 10 points shortly after opening after tearing 90 points yesterday. The 0.3% drop precedes Powell’s appearance at the top of the hour in Congress (via video).
His prepared remarks were not something new and are already published, so we will have to wait for the Q&A to receive signals. His last tactic was to harass Congress (Draghi style) to do more.
The S&P 500 temporarily broke the 61.8% retracement and April / May highs yesterday, but you would like to see a breakout coordinated with something like AUD / USD and other risk assets to confirm this.
- DJIA -161 points to 24438
- Nasdaq +22 to 9257
- Canadian TSX up 0.9% after holiday Monday