S&P 500 Snapshot: FOMC Minutes Spook the Market
From dshort.com - Advisor Perspectives
February 20, 2013 - 5:08pm
Feb 20, 2013 Doug Short The S&P 500 started the day on a cautious note. Data on housing starts came in below expectations, although the Producer Price Index data continues to show tame inflation in the pre-consumer price chain. But caution is a common market mentality on days when the FOMC minutes are released. The market was down about 0.6% when the minutes were released at 2 PM, but when traders began deciphering the committee' Views on Current Conditions and the Economic Outlook, a selloff ensued. The index closed the day near its intraday low with a loss of 1.24%.More...
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