Good to see DOW/S&P holding gains given the rumoured raise in interest rate. XAO/XJO will continue the commodity led bull market if DOW stabilise at these levels.
"For Barry Hyman, equity market strategist at EKN Financial Services, investors only have to look at the data to know where interest rates are heading. "Regardless of all of the Fed commentary, as we speak today, the proof is in the numbers," Hyman said. "Inflation is picking up, and that means further rate increases beyond June. I think that will keep the market in check once we rally off our lows." The fed-funds rate currently stands at 5%. The central bank is widely expected to raise the rate by a quarter percentage point when it meets at the end of the month. Hyman said the market will be stuck in a trading range for the summer, with "maybe some further upside probing over the next few weeks." For the S&P 500, the trading range will be 1,180 to 1,280 points, according to Hyman."
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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