After Monday’s risk-off session, Tuesday brought a modest rebound with the Russell 2000 pushing into new high territory while SPY and QQQ hover just below resistance. Breadth metrics ticked back toward neutral-to-positive, keeping the medium-term uptrend intact even as rotation and short-term noise continue under the surface.
Its voting membership includes the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the other regional Federal Reserve Bank presidents.
Kevin Hassett’s push for deeper rate cuts comes as he emerges as the leading contender to replace Jerome Powell, with markets bracing for a more dovish Fed.
After Friday’s first signs of fatigue, Monday’s session brought another day of weak participation while the major U.S. indices hovered near record highs. Short- and medium-term breadth ticked lower again, but the majority of stocks still trade above key moving averages and new lows remain limited. The current breadth trend remains neutral with a slight positive bias, but the cushion is getting thinner.
The muted action reflects a broader sense of indecision across markets, with traders weighing the central bank’s interest-rate path against the latest geopolitical and trade uncertainties.
The President warned that AI will be destroyed in its infancy if each state had its own process for setting AI rules and approving applications from companies.
