Friends
A perceived cooling of trade tensions with China mixed in with a slight tick up in interest rates was the right recipe for a nice rally in stocks. Again, these headlines are day to day, and not to be acted upon, but for market watchers they are nothing less than fascinating.
By the close, the Dow Jones Industrial Average was up 326 points to finish the day at 26,362. The S&P 500 was up 36 points to close at 2,924. Gold was down $14.10 to trade at $1,535 per ounce, while oil was up $.80 to trade at $56.58 per barrel WTI.
The bulls are feeling a little better about themselves, but I would caution them not to get cocky. But, if trade tensions would ease (still a big if), and if the Fed remains accommodative (likely, at least in the short run), stocks could receive some support in the second half of the year. Of course, global economic decline isn’t helping the situation. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
