It was a back-and-forth day for US equities. The market liked what it saw in the US PCE report and that initially kicked off a rally but midway through trading it was erased. Later in the day, the bulls regrouped for a strong close. Tesla, Intel and Boeing were among the winners.
The gains weren’t enough to erased the losses from the rest of the week but they blunted the decline which wasn’t bad given that the market priced out about 12 bps of easing in the year ahead.
On the day:
- S&P 500 +0.6%
- Nasdaq Comp +0.4%
- DJIA +0.7%
- Russell 2000 +0.8%
- Toronto TSX Comp +0.1%
On the week:
- S&P 500 -0.3%
- Nasdaq Comp -0.7%
- Russell 2000 -0.7%
- Toronto TSX Comp flat
This article was written by Adam Button at investinglive.com.
