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Stocks Consolidating Pre-Fed

EQUITIES
  • Across the continent, stock markets finished higher, with UK's FTSE-100 outperforming to close higher by 0.8%. The US was more mixed. The Dow Jones Industrial Average consolidated recent gains to trade slightly underwater, while the tech stock recovery helped buoy the NASDAQ-100 to the best levels since March 2nd.
  • The VIX worked to further close the pandemic gap higher posted in March, slipping to the lowest levels in just over a year ahead of the Wednesday Fed decision. The VIX has traded lower for 8 consecutive sessions.
  • In the US, tech and communication services firms outperformed, with energy and financials lagging, as a pullback in oil prices undermined oil & gas extractors and exploration firms.

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