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Not so fast…

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Market Recap for Thursday, July 21st, 2016   Today traders were watching two things: Comments from the European Central Bank (ECB). Earnings. This morning, the ECB released their policy statement – and stated that there would be NO policy changes. Traders were disappointed, since they had hoped there would be some stimulus. But the ECB just had the same response as the Bank of England (regarding the Brexit), and ECB President Mario Draghi did say that the central bank “would be ready if needed.” At first, markets seemed unimpressed by these comments. Stocks traded in a narrow range in the morning. However, a steep decline in the afternoon sent stocks […]

 

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