That’s ahead of an executive order expected Tuesday from U.S. President Donald Trump to start rolling back Obama-era climate-change policies.
But what we can see is that to a large extent, it isn’t going to worry them too much either.” This is a Teflon market where literally nothing sticks.
Don’t miss: I drove myself crazy by investing $3 in the stock market , The U.S. trade deficit fell sharply in February.
“All bad news gets aggregated, and traders don’t react in any negative manner for more than one day,” he adds.
But year to date, the Dow is still up about 4% and the S&P up 4.6%, as of Monday’s close.
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Economic data on watch as sleepy stock market awaits earnings season
That puts the spotlight on first-quarter earnings, and until they come out, economic data will remain the focus with the Friday jobs report being paramount.
“Economic data still continues to be impressive,” Kepner said.
Given that economic data has so far justified Fed members from consistently forecasting at least two more rate hikes this year, however, does not guarantee they’ll materialize.
Until then, investors will have to content themselves with a week of economic data, notably the March jobs report and unemployment rate on Friday.
A sudden change in economic data could quickly send the Fed back to the drawing board with regards to their rate hike schedule, he said.
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There’s also less worry about a potentially explosive political situation, despite Britain’s exit from the European Union.
All of those gains come at a time when the U.S. market has been sluggish following the Trump rally.
Zaccarelli said a focus this year on Europe and emerging market exposure “has been a good call” with respective gains of 7 percent and 12.5 percent for client portfolios.
With money pooled in U.S. stocks beginning to dry up, cash is flowing to Europe.
The Nasdaq tech barometer was the sole index to post a solid gain for the month, up about 2.1 percent.
collected by :Dicson Walt