D&D Note (1.31.2018) ~ Last FOMC Meeting for Chair Yellen ~

D&D Note (1.31.2018) ~ Last FOMC Meeting for Chair Yellen ~

In FED Chair Janet Yellen’s last meeting the FOMC held rates the same and guided to a March rate hike. Following the meeting minutes release markets saw a fairly big reversal to the downside. Correlated? Perhaps not as much as it would seem and rather we are still seeing large rebalancing of funds still selling stocks here at months end.

The POTUS delivered a “Davos like” speech last night which the markets applauded. Slashing drug pricing and infrastructure spending were key take aways from the speech.

Boeing surged today 4.90% after beating on earnings and was the major positive contributor to the DOW (as the DOW is price based and Boeing being one of the more pricier stocks moves the index more so than others).

Big earnings after the closing bell today include; AT&T, Facebook, Microsoft, PayPal, Qualcomm, and U.S. Steel.

The upcoming US Jobs Numbers will be a usual market mover as well as more corporate earnings including; BABA, GOOG, AMZN, AAPL.

D&D movers:

– EMHTF up 6.31%

– BA up 4.90%

– TWMJF up 2.32%

– NFLX down -3.05%

– PHM down -2.78%

– DIS down -1.24%

Indexes

– DOW up 0.42%

– NASDAQ up 0.12%

– S&P up 0.05%

Sector Movers:

– Real Estate up 2.08%

– Utilities up 1.10%

– Technology up 0.73%

– Health down -1.44%

– Consumer Staples down -0.40%

– Consumer Discretionary down -0.35%

Notes

– US 2-YR 2.149% (up 0.025)

– US 10-YR 2.718% (down -0.007)

– US 30-YR 2.943% (down -0.037)

Volatility

– VIX 13.68 (down -7.51%)

Crypto (1:00 PST)

– BTC $10,016.50

– ETH $1,090.00

– BCH $1,464.53

– LTC $160.53

Metals

– Gold $1,349.90 (up 0.74%)

– Silver $17.315 (up 1.51%)

– Copper $3.204 (up 0.47%)

Energy

– Oil $64.89 (up 0.59%)

– Brent $69.06 (up 0.06%)

– Nat Gas $2.968 (down -7.10%)