The SPX finished last week -0.4 to 1104.49 after bouncing (or being manipulated) off the 1086 low on Thursday. Either way, it was a positive because in terms of economic data it was probably the worst week this year.
Market Advances as Volume Declines
The Fed surprised the market last night and hiked the discount rate, which adds some uncertainty to the markets even though the Fed said it wasn’t a policy rate change.
