Bloomberg reported that ‘the S&P 500 Energy Index has outperformed the broader S&P 500 by 21 percentage points so far this year'.
This is What We Know So Far
2021-08-26 • Updated
The US Futures dropped on Thursday following some remarks by some of the Federal Reserve members earlier today, including Bullard who repeated his previous statement. Bullard wants to complete QE tapering by the end of Q1 of next year, such scenario is considered as extreme and probably unrealistic. Yet, the market reaction so far is reasonable.
The Dollar index spiked higher across the board, retesting 93.00 resistance area, while futures turned negative. However, eyes are still on the Federal Reserve's chairman Powell later today, which may change the current move.
If Powel kept the door open for a delay, equities are likely to recover, while the dollar might turn negative by the end of the day or by the end of the week. Otherwise, if the Fed stick to its plan to start tapering this year, equities may suffer a notable sell off and may turn negative on the week, while the Dollar Index might break above 93.70 this time.
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