Slower economy/Stocks down. But market ok with Fed foot on pedal for longer

Do you agree?

The US major indices are ending the day lower but well off the day's lows.

  • S&P is down about -0.29% on the day
  • Nasdaq fell 28.85 points or -0.58%
  • Dow fell -31.43 points or -0.18%

For the week, the Nasdaq and S&P rose by 0.83% and 0.43% respectively. The Dow was down -0.12%.

European stocks ended their week lower with the Italian and Spanish markets the weakest. The Euro Stoxx fell by 2.63%.

Crude oil is trading at $48.77 or down -0.79% Last week oil closed at $49.33. So the change is not that great.

Gold rallied 2.8% on the day on the back of the weaker dollar.

In the debt market, the yield curve flattened a bit with the yieldd down from 7 to 13 basis points.