Stocks are mixed today, and volatility is flat and trending down, and that may be a surprise to a lot of people. The market had reasons to go down. Stocks have been strong and are somewhat overbought. On top of that, we have a strong dollar and weak oil today, two traditionally toxic combinations for stocks.
But stocks are mixed, with the S&P flat. What's going on? The Fed's dovish posture and today's economic data is a positive for stocks.
The March nonfarm payroll report was mostly inline with expectations, with no major revisions. That moved the dollar up, putting some pressure on commodities and commodities stocks.