Bonds and silver ended the day lower, gold and stocks unch, and WTI crude (and RBOB - back over $3.00) notably higher. While the Nasdaq, Russell, and Trannies are comfortably above the FOMC meeting levels (from 6/19), the Dow and S&P struggled to hold it into the close after the extreme swings that the FOMC minutes dragged through the markets. Maria B might say 'off the lows', others may say 'off the highs', but it seems the machines had it all under control as the S&P 500 closed at VWAP (amid the total lack of clarity that the minutes provided). Financials underperformed (but remain green from FOMC 6/19) along with energy - as Brent-WTI was crushed to below $2, historically average around $1.
After an eventful day, equities end the day with small gains... but bonds go out at high yields of the day. Note they were moving in lockstep until around 3pmET when stocks pushed back up to WVAP and bonds ignored it...
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as did Gold...
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The FX Market turmoiled then calmed down again...
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WTI smashed above $106 today and crushed its spread to Brent...
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Which leaves us wondering what happens to gas prices...
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The S&P and Dow are practicaly unchanged from the 6/19 FOMC statement as the NASDAQ (and Russell) surge...
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But homebuilders are just not buying in... even as discretionary and financials lead the charge...
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Charts: Bloomberg