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Market Commentary
Fed Delivers Hike, Tape Digests the Move
Indexes close lower as the rate decision lands and oil softens. The Federal Reserve raised the federal funds target range by 25 basis points to 3.75–4.00 percent, the first increase in three years. Markets opened with modest strength but faded after the announcement...
read moreTape Softens Ahead of FOMC
Indexes ease as tech lags while energy and defensive groups show relative firmness. SPY closed near 761.64, down roughly 0.35 percent on the session. QQQ finished softer in the 0.4 to 0.8 percent range while IWM slipped about 0.3 to 0.4 percent. Volume was orderly...
read moreOil Pressure Hits the Indexes
SPY, QQQ and IWM all finish lower as higher crude and a sharp health-care selloff outweigh relative strength in energy and select technology names. The major averages closed modestly lower on the return from the long weekend. SPY finished near 766, down roughly half a...
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