Market pros will look for Powell to comment on market speculation that the Fed could take its benchmark rate to a negative yield. Fed officials have said they have no interest in negative rates, which are being used by central banks in Europe and Japan. But for the first time this past week, traders drove futures on fed funds to show slightly negative rates in contracts starting in November.
"Tech was the shutdown trade and small caps are the reopening," said Boockvar, noting small caps are domestically focused and are sensitive to the back-to-work trade. picking up around the U.S. States have been opening up at different speeds, and California was the latest to reopen some activity Friday.
"I'm getting more confident that we've seen the lows, and we're starting a recovery in the stock market, but I think the volatility is going to stay there, and there will be challenges. I think the general direction is up rather than down at the moment," said Paulsen.
Everyone with a brain knows the market is NOT based on economy!!!
Expected to trade with trillions of newly printed money from Satan's bookkeepers at the FED.
This a sell the news event, don't get back into the market now people
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