Market hopeful on trade and Powell
With Fed Chair Powell ahead and the G20 meeting later in the week/weekend, the stock markets are taking a more positive tone ahead of those events. Of course, it is still too early to tell what Powell says (does he slow tightening rhetoric) and how Trump/Xi works out this weekend, but often times, you need to “hope” before you have the “facts”. Time will tell.
The snapshot now shows:
- S&P index +12.5 points or 0.47% at 2694.62. Remember the 2017 closing price came in at 2673.61. So the index is positive
- NASDAQ index is up 48 points or 0.69% at 7131.72
- The Dow is up 200 points or 0.81% at 24,947. The 2017 closing price came in at 24,719.22. The index is back in the black.
In the US that market, yields are modestly higher. Below are the current numbers for the 2s to 30s.