U.S. markets were mostly weak during the first half of trading, but improved off the morning lows heading into the Fed minutes. The small-caps gave an early signal the major indexes could extend their winning streak for a 3rd-straight session as they traded in positive territory within an hour of the open. However, there was little reaction to the Fed news afterwards, despite a more cautious tone with the market finishing mixed for the session.
The Russell 2000 gained 0.2% after reaching a peak of 1,551 while closing higher for the 5th time in 6 sessions. The Nasdaq slipped 0.4% despite making a run to 7,128 but was able to hold the 7,000 level for the 2nd-straight session.
The Dow dropped 0.9% after trading in negative territory throughout the day with the low tapping 24,150. The S&P 500 stumbled 0.6% after testing a low of 2,639 with the 50-day moving average officially falling below the 100-day moving average and is typically a bearish development.
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