It was a enjoyable rid however S&P 500 futures are actually again the place they have been earlier than the FOMC choice. It was a 50-point rise and fall, or about 0.7% in every route.
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If you wish to blame anybody, blame Oracle for the decline as Nasdaq futures are underperforming down 1.1% on an 11% share worth decline after earnings. The market is getting apprehensive concerning the AI spending and Oracle simply retains spending extra.
In order for you a extra nuanced reply, that is the same old post-Fed chop. The reduce and wait-and-see assertion is precisely what was anticipated so the rally most likely wasn’t justified.
And a closing warning: We’re now into the year-end flows a part of the yr the place nothing is smart and it is all about taxes, place squaring, deleveraging and settling the books, not pure investing or buying and selling.
