Another wild ride on Wall Street- Dow Jones fails to close above 40k

Yesterday the Dow Jones was the only major US stock market to close higher on the day. However, that does rather mask some volatile price action during the session. The reader was warned about that again yesterday. So, the Dow Jones had earlier opened lower, at 39,828. It had closed on Wednesday at 39,853. The index rebounded immediately though, from a session low at 39,817 and that rebound took it up to a high at 40,438. However, as the Nasdaq fell back and despite any favourable rotation towards the Dow, the index handed back a great deal of those earlier gains and later only closer 81 points higher, at 39,935. Well, given the earlier rise, that was somewhat of a disappointing close. That said the Dow Jones futures are in the green this morning and right now pricing a higher opening, at above 40,075. Of course there is much water to flow under the bridge today and not least the impact of the important US PCE data later on. There will be more to add on that in due course, ahead of the release at 12.30pm GMT