Oct 8, 2014
Fed to the rescue…again!
Equities started the day weaker, adding to one of the worst trading days in months Tuesday, but markets turned decisively positive after results from the Fed Minutes of its September FOMC meeting was considered “dovish”. The Dow Industrials surged triple digits after the release of the minutes, while bonds cut losses, the dollar sank, and gold reversed.
So once again, the markets in disarray, and the Fed came to the rescue! The Dow Industrials posted a triple digit move for the 9th time in last 13 trading days, while today’s gains wiped out yesterday’s losses (note NASDAQ futures had a 90 point bounce off the lows!).
HammerstoneReport Closing ReCap-10/8/14