NASDAQ index/other indices rebound higher to start the month of May

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NASDAQ index/other indices rebound higher to start the month of May

The major US indices looked like they may start the month of May off the way they ended the month of April - with declines across the board. The Dow industrial average is down -1.6%. The S&P was down -1.69% and the NASDAQ was down -1.07% in the New York afternoon. However, buyers entered, and erased the declines and closed nearer the high levels of the day.At the closing bell:Dow industrial average rose 84.29 points or 0.26% at 33061.49S&P index rose 23.47 points or 0.57% at 4155.39NASDAQ index rose 201.39 points or 1.63% at 12536.03Russell 2000 rose 18.81 points or 1.01% at 1882.91The Federal Reserve will meet on Wednesday and are expected to increase rates by 50 basis points. Since their last meeting decision on March 16:The DXY index is up 5.3%The 10 year yield is up 83 baais pointsThe Nasdaq is down -6.65% The S&P is down -4.65%That is some headwinds for the market, but inflation remains an unknown, housing continues have supply/demand imbalances (although getting better) and the Fed is behind the curve in getting rates to neutral (2% to 2.5%).

Source: NASDAQ index/other indices rebound higher to start the month of May

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