Nine Weekly Reversals Show S&P 500 Traders Have No Clue on Fed
- U.S. stocks climb 2.1 percent in holiday-shortened week
- Gains and losses have alternated for the last two months
Two Reasons the Fed May Hold Off on a Rate Hike
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Trying to divine a signal on Federal Reserve interest rate policy from the U.S. stock market right now probably isn’t going to work.
For the ninth time in a row, the Standard & Poor’s 500 Index just posted a weekly return that amounted to a reversal of the prior week’s performance. This time it rose, gaining 2.1 percent, after retreating 3.4 percent in the previous five days. Before that it climbed 0.9 percent, fell 5.8 percent, climbed 0.7 percent -- you get the idea.