Jerome Powell & The Fed lifted off Wednesday, 25bps hike as expected, states Bill Baruch, President of BlueLineFutures.com.
The equity benchmarks S&P 500 (SPX), Nasdaq (IXIC), and Russell 2000 (RUT) responded with a healthy rally. The conflict in Ukraine is still a concern, as re-escalation is never out of the picture.
Crude Oil (CL=F) regained its footing, topping $103 today. As the IEA stated yesterday, three million barrels of Russian Crude have been taken out of the market, which is going to be a tailwind. With a build in Cushing yesterday, and news of the Iran Nuclear deal becoming a possibility, crude's ability to hold higher shows other dynamics at play.
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