Money poured into industrial names yesterday as the Dow led all indexes with a 0.66% gain vs. the S&P 500's 0.10% and the NASDAQ Composite's decline of -0.11%.Volatility continued to be a factor as the Dow opened up over 200 points, quickly gave up over half of that gain, and then rallied back up over 300 points before giving up 2/3rds of that gain and then mustering a rally at the end of the day to close up 164.70 points. The high levels of volatility continue to make this a difficult environment.
Futures are up as the market struggles for direction. The Fed is slated to release a report on monetary policy at 11 a.m. ET, and other Fed officials are lined up to speak publicly later today. The release of minutes on Wednesday rattled markets, signaling that the central bank is eager to hike rates should signs of rising inflation persist.
Focus List Notes:
NVDA pulled into within 2% of its 10-dma as volume came in below-average. If it can hold this pullback to the 10-dma, it could be viewed as a lower-risk entry point if we see the market find its feet and continue the rally that began two weeks ago.
Market Lab Report - Pre-Market Pulse for Friday, February 23, 2018
| Published: | 23 Feb 2018 08:27 ET |
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