Wall Street gains as first trade deal reached
Thu May 8, 2025 7:00 PM
It was a very good day all around even though it started much, much better. Though a slow start, there was a great big jump at 11 a.m. and by noon all the indexes were way up, the Dow up 630 at its height, then suddenly dramatically tumbling in the final half hour. Nonetheless, the day ended with handsome gains all around. After a long wait and much anticipation, the first trade deal was announced, this one with Britain, with some concessions though the tariff would remain in place.
But any progress at all in this protracted trade war was greeted with sheer jubilation helped by building optimism with China, a deal expected as early as this weekend. However, as cautioned by today’s expert, “Trump’s a showman, and so when he said that those talks this weekend in Geneva are going to be substantive, you have to take him at his word, but you never know.” A drop in jobless claims indicated the labor markets continues to be stable. For the first time in a long time, volume was right in line with the 4-week average of 16.86 billion, coming in today at 16.85 billion.
DJ: 41,113.97 +284.97 NAS: 17,738.16
+48.50 S&P: 5,631.28
+24.37 5/7
DJ: 41,368.45 +254.48 NAS: 17,928.14
+189.98 S&P: 5,663.94
+32.66 5/8
No comments:
Post a Comment