Market Recap: 28 Jan 2014 – Dow snaps 5-day losing streak

By Markus Heitkoetter

Equity markets were higher ahead of tomorrow’s highly anticipated Fed Statement. The DOW snapped a 5 day losing streak adding 90 points by the end of the session. The S&P ended its 3 day slide with an 11 point gain.

Tomorrow’s Fed Statement at 2pm, the last with Ben Bernanke as chair, will be watched closely by market participants. The big question – Will the Fed continue to taper as planned?  With both the S&P and DOW just below key resistance levels (1,800 and 16,000 respectively), this will likely be an important market moving event.

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