Hey folks,
Let’s not sugarcoat it — today was a total nothing burger from the Fed.
No surprises. No fireworks.
We’re still in “wait and see” mode… and for now, that means Jerome Powell keeps his job.
The market didn’t do much either. Stocks drifted sideways, volume was light, and traders mostly just hovered around their screens looking for something to react to.
But beneath the surface, a few things actually did move — and that’s what I’ve been watching.
First Up: Crude And Gasoline.
The latest EIA Petroleum Status Report came out this morning.
It showed another draw in crude oil inventories (meaning we used more oil than we added to storage), which would normally be bullish.
But on the gasoline side, we saw a surplus — more gas in storage than expected. That put pressure on refined product prices, and as a result, gasoline futures dropped about 3 cents.
In short: demand for crude still looks healthy, but refiners are producing more gas than the market needs right now. That imbalance could weigh on prices if it continues.
Then There’s Gold…
Gold opened weak in the overnight session and just never recovered.
It didn’t get any help from the Fed’s statement — no rate cut hints, no inflation panic, nothing to light a fire under precious metals.
For now, gold’s in sit-tight mode, same as the market.
So yeah, not the most exciting day — but that’s the nature of Fed weeks sometimes. The real action often comes after the dust settles.
Let’s see what tomorrow brings.
Stay sharp,
—Geof
P.S. U.S. Government debt is massive… and the next payment could cause this one asset to surge! Here’s how I’m playing it!
