Market Wrap Monday

Good Evening,.
Macro:
Personal Income missed, Consumer Spending high, Core PCE on consensus, Pending Home Sales missed very badly, Dallas Fed slight miss.
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Fed Speakers:
William Dudley sounded hawkish, while Charles Evans came in later, sounding dovish.  This clearly demonstrated the uncertainty surrounding the Fed, and thus exacerbated the risk-off environment in just about every asset class.  Nice goin’, Slick.  No soup for you, one year.
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1) All four major indices took a severe beating today as preservation of capital became the focus.  The S&P 500, Russell 2000, and NASDAQ Composite all surrendered more than 2.5%.  Only the DJIA, which only represents 30 stocks kept it’s decline under 2%.  Trading volume picked up late in the day, at the lows of the session, and ended up quite heavy.
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2) Let’s talk S&P sector indices, shall we.  Health Care gave up almost 4%.  Within that sector, Biotech gave up almost 5%.  Energy -3.5%…. Materials -3.2%….. Consumer Discretionary -2.9%.  Ok, ok, I give….Were there any winners ???   No.
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3)  US Treasuries were today’s only safe haven.  This gave the Utility sector enough of a boost to keep it’s performance to a -0.6% day.  Even Gold was slapped around.  Rounding out our circle of doom, Crude and the US Dollar also had really lousy days.
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4)  “Clubber, what’s your prediction for the fight?”……. “Pain”.