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Daily U.S. Market Update

Michael Reinking, CFA
Sr. Market Strategist

March 21, 2023 at 2:00 p.m. EDT

Not surprisingly equity markets are not veering too far from the unchanged mark ahead of the today’s FOMC Policy Decision. As we head to print we’re drifting a bit lower, the S&P 500 is down 12pts to 3,991 (-0.3%), the Dow is down 141pts to 32,419 (-0.4%), while the Russell 2k is down 13pts to 1,765 (-0.7%).There had been a relief rally coming out of the weekend that had the S&P 500 up just over 2% for the week coming into today. This has put the index right around the 4k level, impressively back to where we were trading two weeks ago as the SVB situation began to unfold.

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