It was not like he wasn’t full speed ahead to taper and even tighten, but the market took the news in stride and moved higher. It may be that growth is high which is good, and perhaps a belief that inflation is also high but also has some extra stuff (supply chain) that will fade away over time. Now it may be that today’s gains may lead to tomorrows losses, but for now, the markets are closing with solid gains.
Highlights:
- The S&P, NASDAQ, Dow snapped their two day losing streak
- The Russell 2000 snapped its four day losing streak
- The gains were led by the NASDAQ index which moved up over 2%
- The Russell 2000 index was up about 1.65%
- the energy sector was the only one of the S&P 11 sectors to decline (down -0.5%)
- The technology sector was the big winner (up 2.6%)
The final numbers are showing:
- Dow industrial average rose 383.23 points or 1.08% at 35927.44
- S&P index rose 75.74 points or 1.63% at 4709.84
- NASDAQ index rose 327.95 points or 2.15% at 15565.59
- Russell 2000 rose 35.55 points or 1.65% at 2195.208
