Nasdaq 100 Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Wednesday closed up +1.05%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.16%.
Stock indexes Wednesday recovered from early losses and settled moderately higher, with the S&P 500 climbing to a 5-month high, the Dow Jones Industrials posting a 2-1/2 week high, and the Nasdaq 100 climbing to a 4-1/2 month high. Stock indexes whipsawed higher Wednesday afternoon when Fed Chair Powell said the Fed had made progress on inflation. Stocks then extended their gains on relief that Fed Chair Powell did not push back against the loosening of financial conditions in recent months when he said the Fed's focus is "not on short-term moves but on sustained changes."
Conflicting labor market news Wednesday initially weighed on stocks after the Jan ADP employment change rose less than expected at the slowest pace in 2 years, but the Dec JOLTS job openings une... Read more