The market has been marking time all session long, and it only exhibited strength during Fed Chair Jerome Powell’s interview at his alma mater, Princeton University.  The biggest news came from his opening statement after acknowledging the pain the nation is enduring. He made this pledge:

The Federal Reserve is committed to do whatever it can for as long as it can to support the economy.

Powell mentioned the plight of women numerous times, and a commitment to heal the nation, not just the big banks.  I would say the so-called duel mandate is out the window, but then again, it has been for some time.

Powell also announced the Fed’s Main Street lending program is few days away.  Sounding anxious, he remarked it will be the toughest challenge of all the efforts the Fed is attempting.

Three separate Main Street lending facilities, which are toughest challenge out of 11 total facilities. The loans will range from:

• Smallest loans $500,000
• Largest loans $100 million

All 11 S&P sectors are lower with energy making the biggest retreat.

All eyes are on the rose garden as President Trump will be speaking at 2PM on how the administration will handle the growing provocations.  I’ll be covering it on my show Making Money with Charles Payne.

I think if there is a sense the trade deal survives this latest dustup, stocks could rally. Although, there are other issues for the market after the monster rebound.

We are not going to force the issue heading into the weekend.  Have a great one.  Be safe and be well.