US Federal Reserve Chairman Jerome Powell gives a press briefing after the surprise announcement the FED will cut interest rates on March 3, 2020 in Washington, DC.
Eric Baradat | AFP | Getty Images
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Quiet upward drift fairly common on Fed day before the statement hits. Bid returns to big growth stocks after the late-day air pocket yesterday. Very little to conclude from most of the daily back-and-forth except this market remains comfortably stuck near the upper end of a seven-week range, preserving a gentle uptrend for now.
S&P has been holding in a narrowing band, upside 3280 and downside a bit below 3200, albeit in choppy, rotational, selective fashion. Would not shock me if the index made a run for either rail in the post-Fed gyrations, just to give folks something to think about tomorrow.