Friday, 29 May 2020

May settles

US equity indexes closed rather mixed, sp +14pts (0.5%) at 3044. Nasdaq comp' +1.3%. Dow -0.1%. The Transports settled -0.4%.




US equities opened on a weak note, ahead of the Trump press conf'...


The above came after...

... as things continue to escalate between Twitter and Trump. This can't possibly end well for the former.

Powell appeared at 11am, with ex vice-chair Blinder, in what was an outright propaganda piece...

The Fed chair admitted he had crossed a number of red lines, but that it was appropriate, and he would deal with the implications 'later'.

The afternoon saw the US President appear...

.. although the market decided to interpret Trump's speech as 'less bad than expected'. With no Q/A, the market was further relived, and rallied (if choppy) into the close.

Volatility printed 30.16 with sp'2998, but was knocked back lower in late afternoon, the VIX settling -3.8% to 27.51.

The sun sets on May trading.

Full moon... Friday June 5th.
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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