U.S. markets traded in a tight range on Thursday as the Trump-Kim summit ended abruptly when the two leaders failed to reach a deal. The failed meeting had little impact on the major indexes as they traded in tight ranges. A better-than-expected GDP number helped keep weekly lower lows from coming into play and near-term support levels have been holding throughout the week....
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The Trump administration and the Federal Reserve together could spark a "shock and awe" rally in stocks that would take the S&P 500 to the 3,000 level, according to a J.P. Morgan executive director.That would represent a 7 percent gain from where the market was trading Wednesday. The S&P 500 closed Wednesday at 2,792, down a point."The 'shock and awe' upside scenario involves rescinding...
Continue reading >>U.S. markets showed weakness for a 3rd-straight session with the major averages settling mixed as Wall Street digested the latest economic and political news. While both fronts played a role in market direction, the lower lows remain a slight concern although major support levels held for the 2nd-straight session. In a reversal of this week’s technical pattern, the small-caps showed strength...
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