Highlights
Dip-buying lifted stocks Friday after Thursday's selloff with support from hopeful-sounding comments from President Trump and other officials on the US-China trade war. The Dow Jones industrial average, the S&P 500, and Nasdaq all rose 0.5 percent. US Treasury yields rose, the dollar declined, and oil prices rose.
Worries over credit problems that hit regional banks on Thursday appeared to be contained on Friday with several analysts downplaying the concern. On trade, the market reacted favorably after President Trump said high bilateral tariffs are not sustainable and"we're going to do fine with China" on trade.
Big technology stocks mostly had a good day to bolster the major indexes. Other outperformers included travel & leisure, parcels & logistics, rails, credit cards, and China tech stocks. Lagging were pharma, industrial metals, machinery, trucking and engineering & construction stocks.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.