On Wednesday Sep 6 markets tried a recovery of sorts. There wasn’t a lot of strength but news of a potential deal on the debt ceiling jumped started the market mid-afternoon. Then came word of further talks on tax reform. On top of this we received the Fed’s beige book which indicated lots of employment pressure with a tight labor market being widespread. However there was limited wage pressure despite shortages in manufacturing and construction. Low housing inventory was blamed for rising home prices and yet at the same time the Fed expressed continued concerns on lack of inflation. This, investors once again took to mean, no Fed rate hike in September or October and maybe none even by December.
Here is the outlook for the S&P and NASDAQ indexes for Thu Sep 7 2017 as viewed by the advance decline numbers from the close of trading on Wed Sep 6 2017.
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Advance Decline Numbers Outlook For Sep 7 2017
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