| The month of September has been a crazy one! With the stock market continuing to stump even the most seasoned traders, one can't help but wonder what could be coming at us next…
Wall Street started the session slightly higher Wednesday following reports an agreement has been reached by Congress on a continuing resolution to avoid a government shutdown at the end of the month.
But it didn't last as major indexes reversed course shortly after, with the Russell 2000 and the Nasdaq leading the way lower. The bulls managed to avoid Monday's monthly lows, excluding the small caps, but continue to struggle to regain momentum.
Meanwhile, Federal Reserve Vice Chairman Richard Clarida stressed the central bank will not raise rates until inflation hits 2%. The economy has recovered but it's still facing a deep hole, he said. The baseline view is for a faster recovery than following the financial crisis, which took about 10 years.
He expects it will take about three years to get unemployment rates back down and for inflation to get to the 2% goal, while saying additional stimulus will likely be needed.
With news updates continuing to flow in, it's understandable that investors of all backgrounds might find themselves overwhelmed… | 
No comments:
Post a Comment