The major US indices have had a up-and-down session along with the up-and-down headlines from Pres. Trump regarding the Fed chair. Recall also at the beginning the day, the markets were supported by better PPI data.
Reports of Pres. Trump firing Powell sent the NASDAQ index down -170.74 points at session lows. The high price at the start of day so the index rise 53.96 points. The NASDAQ index is now up 35 points or 0.17% at 20713.07. Recall from yesterday, the index closed at a new record level so a positive close today would be yet another new record. The intraday high price yesterday reached 20836.04. The price is still a good ways away from that level
For the S&P index, it is up 12.21 points or 0.19% at 6255.87. It’s record close was back on July 10 at 6280.46. The price is some 25 points away from that record level. At session lows, the index was now -42.17 points.
This article was written by Greg Michalowski at www.forexlive.com.