Running on fumes, good news visible, bad news invisible, and still some good news likely during the next week or so.
"Looking ahead, investors will receive the FOMC Minutes for the January meeting and the weekly MBA Mortgage Applications Index on Wednesday.
- Russell 2000 +16.8% YTD
- Nasdaq Composite +12.8% YTD
- Dow Jones Industrial Average +11.0% YTD
- S&P 500 +10.9% YTD
..NYSE Adv/Dec 1830/1066. ..NASDAQ Adv/Dec 1894/1155.
The U.S. and China resumed trade negotiations in Washington. President Trump said he believes China is intent on working quickly toward a deal to avoid a tariff hike on March 2. President Trump reiterated a possible extension to the trade deadline, telling reporters that the March 1 deadline was "not a magical date."
Market Favors Fed Mester's Dovish Comments over Hawkish Comments
There was also some Fedspeak ahead of the FOMC's Minutes from the January meeting, which will be released on Wednesday.
New York Fed President Williams (FOMC voter) said mixed economic data has been a strong argument for a pause for further rate hikes, although he added that he expects to be drawing down the balance sheet for some time.
Cleveland Fed President Mester (non-FOMC voter) for her part reportedly said she favors slowing the Fed's balance sheet normalization effort, but said the fed funds rate may need to move a bit higher than current levels if the economy evolves as she expects.
The market took the good and ignored the bad, which is all it has done so far in 2019"
https://www.briefing...-market-update/