A rally Tuesday was ignited by an out of the blue crude oil rally which then spilled over to the rest of an oversold equity market.
Recently stronger markets have occurred the day before a Fed meeting.
This was another such event as bulls were setting the table for the Fed likely they believe to do little with interest rates now.
In the future? Who knows?
Economic data wasn’t inspiring Tuesday as the Case-Shiller HPI fell to -02% vs 0.3% expected & prior revised lower to 0.0%. PMI Services FLASH edged higher to 55.2 vs 54.8 expected & prior 54.8. Consumer Confidence fell sharply to 90.9 vs 100 expected &