Fed-nado Trumps AAPLocalypse: Panic-Buying Spree Pushes S&P Back Over 2,100 (And Fails)
By Tyler Durden
Are you not entertained??
Commodity Carnage continues in China…
Nothing happened before The Fed (apart from a chaotic dip and rip in crude oil and bid for bonds all morning)…and then it hit…
Getting the S&P 500 to 2,100 was all that mattered after The Fed – becase that tells the world that everything is awesome!!
Tough day for Nasdaq (as AAPL and TWTR were twatted) but the crushing of VIX lifting all boats saved the day… AAPL knocked 48 points of The Dow today
On the week, Small Caps were squeezed once again to the highs as Nasdaq remains the laggard
FANG stocks had a tough day even with the post-Fed pump and panic buying effort to lift Nasdaq into the close…
The USD Index continued to drift lower while AUD's collapse overnight (after record low inflation) stands out among the majors…
Treasuries broke the longest losing streak since Sept 2014 today with 10Y Yields dropping 6bps after rising for 7 days straight.
This was the biggest drop in 3 weeks… as bonds rallied back from where they were at the March FOMC…
As 2s10s flattened dramatically…
Commodities were generally higher today as the dollar los more ground. Copper continued to slide as chinese commodity bubble bursts, PMs were flat tp sligfhtly higher but crude was total chaos…
F##k The Fundamentals…at least the ramp stopped at NYMEX close…for now
Charts: Bloomberg
Source: Fed-nado Trumps AAPLocalypse: Panic-Buying Spree Pushes S&P Back Over 2,100 (And Fails)
