Wednesday, May 24, 2017

The Market And Energy Page, T-114 -- May 24, 2016

US markets closing. Everything hitting new records, or flirting with new records.

Dow 30 up 75 points, but professional traders, according to CNBC, are tracking the S&P 500: if it closes above 2,402, the S&P will close at a new record. Right now, the S&P is at 2,404.70.

CNBC analyst says traders were thrilled with "words" from the Fed, or as some call it the Oracle of Wall Street. The Fed said it will "shrink its balance sheet very, very slowly." The Fed did not change its plan to limit interest rate increases to three times the rest of this year.

And I guess it did. The S&P "is closing at a record 2,404, two points higher than the May high of 2,402."

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