Afternoon Note
The markets are buying time ahead of the Fed decision on rates that will be released at 2 pm ET. The major indices have been trading in a narrow range, but have turned negative, but not by much. While the markets are not anticipating a rate cut, language will be key. Investors want to see the Fed remove the word “patient” from their comments.
The housing market didn’t get much help today as the weekly MBA Mortgage Applications Index declined 3.4% on the back of a huge spike of 26.8% last week.
Financials, Healthcare and Utilities lead today, while Consumer Staples and Materials lag.
S&P 500 Index |
-1.37% |
Communication Services (XLC) |
-0.43% |
Consumer Discretionary (XLY) |
-0.45% |
Consumer Staples (XLP) |
-0.35% |
Energy (XLE) |
-0.22% |
Financials (XLF) |
+0.41% |
Health Care (XLV) |
+0.36% |
Industrials (XLI) |
-0.29% |
Materials (XLB) |
-0.91% |
Real Estate (XLRE) |
-0.32% |
Technology (XLK) |
-0.20% |
Utilities (XLU) |
+0.09% |
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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