US stocks rebound after Powell comments- a record monthly close for the SP 500

Later than scheduled yesterday evening the Fed boss, Jerome Powell began speaking and no sooner did he start, his comments had an immediate impact. Powell said the Fed is in no rush to lower rates further. He advocated a gradual, data based approach to further easing. Well, the impact on stocks was instant, especially given the potential for more profit-taking ahead of the month-end. The Dow Jones fell below 42k and close to 41,900 on this. The Nasdaq 100 got crunched too and the S+P 500 dropped close to the 5,700 mark. However, the rebounds that followed saw all three indexes recover into the monthly and quarterly close. The S+P lifted from a low at 5,703.53, to set a high at 5,765.14. That was just 2 points shy of its all time high set earlier in the month, at 5,767.37. The index later closed out the month at 5,762.48, with a gain of 24 points on the day. So, that was a new all time record daily, monthly and quarterly close for the index. The index futures are slightly lower this morning tough and there will be more to add on that as the morning unfolds. The index is currently priced to reopen later at 5,757