Early swoon wiped out. S&P 500 up 3 points to 2100.
The turn of the calendar was no problem for the S&P 500. A dip down to 2085 in early trading has been completely erased and the index is poised to close at the highest level since April 20. If it can finish above 2102, that would be the best close since Dec 1.
What's important about Dec 1? It's June 1 today so there's something in common but December was also the month where the Fed hiked rates.
Six weeks after Dec 1, the index was down 13.8%. The market is backing away from a June rate hike but July and September are firmly on the table.