The index went nowhere in a hurry. Daily moves summed without regard to direction total 21.2 percentage points, against a net change of negative 1.9% since August 31. Fed hike odds swung from almost 70% in late September to near 20% by October 6, then to between 42% and 50% after U.S. CPI. Behavioural research calls the tendency to read such releases as a trend belief in the law of small numbers.
This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.
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