Major averages finished roughly flat to higher on a relatively quiet, lower volume, pre-Thanksgiving trading day this past Wednesday. After an initial sell-off, the indexes all rallied to close well off their lows with the S&P 500, Dow Jones Industrials, and Russell 2000 all ending the day in the green.
The Fed minutes which were released on Wednesday came as no surprise to the markets. They signaled that members were in agreement for a rate hike, and some mentioned that the Fed should hike rates in December to preserve the central bank's credibility.
Today's shortened session ends at 1 pm EST.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.