A few kind words here, and a wink and a nod there and stocks bounce after yesterday’s selloff. Though tariffs are ratcheting up and the winds of trade wars continue to build, positive headlines/rumors still seem to have some effect on the markets. But, stocks did close off of the highs of the day, and the trade war uneasiness still lingers.
By the close, the Dow Jones Industrial Average was up 207 points to finish the day at 25,532. The S&P 500 was up 22 points to close at 2,834. Gold was down $4 to trade at $1,297 per ounce, while oil was up $.65 to trade at $61.69 per barrel WTI.
It’s likely the markets are going to be dealing with the uncertainty of tariffs and their effects for the foreseeable future. What we will find out over time is just what kind of psychological damage trade war concerns will inflict on the economy- not to mention the actually potential inflationary effects. The first third of the year was a good one for stocks, but we’ll enter the summer with a lot of questions to be answered. Stay tuned.
Have a nice evening everyone.