Markets remain mixed following Fed decision, bitcoin and commodity prices move lower

Markets reporter Jared Blikre examines stock market movements following the Fed's interest rate hike decision, while also looking at price fluctuations seen in gold and copper commodities and crypto assets, such as bitcoin.

Video transcript

DAVE BRIGGS: Jared, what are we seeing? Instantly, they didn't like it, and now coming back to Earth?

JARED BLIKRE: Yes, it looks like a little green here-- not a lot, but we'll take it. And actually, the fireworks starts in just a few minutes here, about 14 or so. So here's the NASDAQ, and you can see, here is the 2:00 PM announcement. Initially, we went down. Now we're back up. A lot of times, there are zigzags, including when Chair Powell takes the lectern at 2:30. What matters today is not only the close today, but also the close tomorrow. So you take yesterday's-- that would be Tuesday's close. You compared it to tomorrow's close. If it's higher, well, that is a successful FOMC announcement, not necessarily from the perspective of the Fed, but from the average investor.

Now let's take a look at the sector action. Only tech in the forefront there-- notable because that has been a leading sector this year and one of the worst off last year's. And that kind of speaks to that paradigm that we've had where the NASDAQ is leading this year, leading the Dow. And it was the opposite last year. Energy taking up the rear there. But let's check out what's going on in the bond market, and not seeing a whole lot of movement here either. This is a 10-year Treasury note futures, basically, where we were when we started the announcement. So I would expect that to pick up some steam when Powell takes some questions later on.

And let's get to some other markets here, some other leading markets, especially in the futures. Let's take a look at gold, gold really not moving. Now gold has been on a little bit of a tear so far. It's up 5 and 1/2% year to date compared to where it's been over the last year, really regaining some of that lost territory. Copper futures-- let me put this back to an intraday. Not seeing a whole lot of movement from Dr. Copper right there.

And we got to check out Bitcoin. Bitcoin very telling. I've been saying, you want to know where the stocks are going to close, watch where Bitcoin is moving into that press conference. And it looks very squiggly right here. That's because this is a huge-- this is a very small range for Bitcoin. Let me put a year-to-date chart here. And you just see what I'm talking about. It's pretty much flat lined over the last week to 10 days. So if Bitcoin starts moving up in a big way, that could be a leading indicator. Down-- the same way. Don't have much more than that. We look into these statements, and we look into the charts with quite the colored eye here, Dave.

DAVE BRIGGS: It's really hanging on, though, Bitcoin. Really--

JARED BLIKRE: Just above 23,000. So, above 20,000. Can't complain.