There was another pullback this week (the fourth consecutive), after a relatively steady, significant increase from the March 10th lows. The Dow was down 1.6%, the S&P 500 1.9%, and the NASDAQ 2.3%. Year-to-date, the Dow and S&P are still negative, down 7.2% and 2.7%, respectively, and the NASDAQ remains positive with an 11.4% year-to-date gain.

In commodities, the price of gold has decreased, down to a little over $900 per ounce. Oil prices have also decreased to $60, back down to where they should be — between $45-65 a barrel. The federal funds rate has also dropped to 0.16%, down more than 10 basis points from just two weeks ago.  The market is no longer pricing in a rate increase.