Volatility Begets Volatility

Friday was a big move to the downside for the stock market, our first big move in some time. Today we had a nice counter-action. The S&P 500 looks to add about 1.5% in today’s session. Defensive stocks did the best today while cyclicals pulled up the rear.

Fed Governor Lael Brainard made some comments today saying she was still very cautious about raising interest rates. She’s been one of the strongest doves on the FOMC. The Fed now goes into its “quiet period” ahead of next week’s meeting. I doubt we’ll see a rate hike at this meeting, but something may come before the end of the year.

Posted by on September 12th, 2016 at 4:04 pm


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