Market Wrap Thursday

Good Evening,
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Macro: 
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Durable Goods missed at the Core, hit consensus at the headline, Initial Jobless Claims beat, New Home Sales easily beat, supplies of Natural Gas grew.
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1) Fed Chair Janet Yellen spoke at 5pm ET this evening.  The key take-aways so far?  She says that “it remains appropriate” to hike rate this year.  To this, I want to say “bravo”, but what common sense I do have is telling to make like I’m from Missouri….. “Show me”.
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2) The good doctor did indicate that if the FOMC seems confident that their inflation target is on it’s way to being met, that it’s a good idea to raise rates before it gets there.  On that…. I could not agree more.  You never, never, never want to raise rates because you have to.  Can you tell that I was scarred by the 1970’s?
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3) The major equity indices all finished between a quarter, and a half of one percent lower on moderately heavier volume than we have recently seen.
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4) As stocks sold off hard, and then rallied today, Treasuries rallied hard, and then sold off, still finishing the day higher than where they started.
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5) Oil rallied throughout the day, and Gold opened higher, and stayed there.
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6) Tomorrow’s Friday.  This is not rocket science,  We are not marching in the snow with holes in our boots.  Our children love us.  This, we can do.  This we will do.