Markets Digest Gains; Crude Down 3%

Markets have a weak bias to it, bucking the recent upward surge in equities. This is a week that is besieged by the Federal Reserve, with market participants hoping and praying to hear dovish news. The most recent data indicates a Fed hike is unlikely to occur until June. This eventuality is not being taken seriously. Once the moment of truth arrives, markets will likely throw a tantrum and run prices lower. For now, however, the indices rudely beat short sellers into submission.

Crude is off by 3.2%, contributing to a general malaise in equity prices.

Bonds are higher by 0.6% and gold stocks are lower. It is a rudderless tape, thus far, with nothing noteworthy to discuss.