div > div.group > p:first-child"> The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record.
Friday's nonfarm payroll report, with 196,000 new jobs, was above expectations and will go a long way toward quelling fears that U.S. jobs growth is slowing significantly after February's 20,000 print . This will serve to enforce the bull narrative that has come to dominate trading in the past month. The bull narrative is: China and Europe economic weakness is bottoming, there will be a trade deal with little or very low tariffs, earnings growth in the U.S. for 2019 will be in the low single digits, inflation will be moderate , and — most importantly — the chances of a recession in 2020 is very low.
The bear narrative, that China and European economic data has been mixed and does not support claims of a bottom, and that the likelihood of a recession in 2020 is very high, has been losing ground. You can see the dominance of the bull narrative in the trading action. Globally, China is again the big outperformer up 5% this week as the Shanghai Exchange hits a 52-week high:Once again, gainers for the week in the U.S. are all cyclicals like semiconductors and industrials, while laggards are defensive names like utilities and consumer staples.The CBOE Volatility Index is sitting near the lows for the year, a sign traders are not worried about near-term volatility.
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CNBCTV18Market Rick Santelli - you think a strong economy is the president's main concern ? Not really, what he cares about most is how good he looks AS president. That's why he is saying there should be more QE .. he thinks it will boost growth and make him look like a genius
Being incredibly gloomy about the economy will not be necessary until January-February of 2020. All the blue players would love this talking pint going into the conventions.
Perhaps after some consolidation first. We have had quite a run since Dec 24th...!
MAGA!!!!!
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Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »