Fed raises rates….still at a measly 2%. Last time unemployment was 3.8%. rates were 6%. This morning ECB says they will slow down money printing but still keep rates negative into 2019. Amazingly, long bond rallies strong this morning taking long rates down. 10 year still under 3%.
Futures up. Normal to do opposite of fed day…which was down.
Was going through scans. In spite of big financials, utilities, reits, housing, housing-related. insurance, defense, consumer staples, chemicals, machinery, emerging markets, russia, china, brazil, turkey, argentina and others, big telecom, solar, semi-equipment and a few other things acting poorly…major indices acting fine. NASDAQ/NDX/TECH/INTERNET and all that stuff still has the r/s and also a bunch of recent money losing IPOs strong regardless of reporting losses. The latest name PVTL.
So very very split tape…but beta be working.