Nasdaq 100 E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Wednesday rose +3.09%, the Dow Jones Industrials Index ($DOWI) (DIA) rose +2.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +4.58%.
Stocks on Wednesday erased early losses and rallied sharply, with the S&P 500 posting a 2-1/2 month high, the Dow Jones Industrials posting a 7-1/4 month high, and the Nasdaq 100 posting a 2-1/4 month high.
Stocks surged after Fed Chair Powell signaled the Fed would begin to slow the pace of its rate hikes next month. Also, comments from Fed Governor Cook knocked bond yields lower and boosted stocks when she said it would be prudent for the Fed to make smaller rate hikes.
The 10-year T-note yield moved lower Wednesday after Fed Chair Powell’s dovish comments as the 10-year T-note yield fell -6.1 bp to 3.683%. The markets are expecting only a +50 bp rate hike at the upcoming December 13-14 meeting after the FOMC has raised rates by +75 bp at each of its last four meet... Read more