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Dow Jones reverses earlier downside as Powell addresses the press

The Fed boss, Jerome Powell is now addressing the usual post FOMC press conference with his prepared remarks and so far there is little change in his message. The Fed is making it clear to the markets; that they are not yet ready to take their foot off the breaks. However, for several weeks now, the markets seem to want to push the Fed into cutting rates. Powell has just repeated what he said before regarding the Fed possibly reducing rates at some point this year, but at the same time the Fed is not yet ready to make that decision it seems and further evidence; that inflation is well and truly beaten will be required. Powell says the Fed will continue to make decisions meeting by meeting. So, all this is not new and as Powell now heads into the Q+A section of the conference, the price action across the US equity markets remains rapid and sporadic. The Nasdaq 100 is still very much the underperforming index and the Dow Jones is the best of the 3 major indexes right now, as it just above edges higher on the season ahead of the month end this evening. The Dow Jones is currently trading at 38,520

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