So how are those NAFTA negotiations coming along, and how do the financial markets view their progress?
From Fred Imbert and Ryan Browne’s article for CNBC.com we have this excellent news:
Stocks jumped on Monday as the United States and Mexico drew closer to a deal on NAFTA. Investors also digested reassuring comments from Federal Reserve Chair Jerome Powell on the central bank’s policy-tightening path.
The Nasdaq Composite climbed 0.6 percent to an all-time high, breaking above 8,000 for the first time, as Facebook, Amazon, Netflix and Alphabet. The Dow Jones Industrial Average rose 214 points as Caterpillar outperformed. The S&P 500gained 0.6 percent to hit a record high with materials and financials as the best-performing sectors.
CNBC reported, citing a Mexican official, that trade talks between the U.S. and Canada had concluded and a NAFTA announcement could come later on Monday.
Record-high stock prices means more money in the pockets not only of wealthy investors, but everyone who has any fund of any kind. This of course includes mutual funds, retirement funds and a host of others, benefiting tens and tens of millions of people.
Tell me: which would you rather be running on during the midterm election campaign? The above information (coupled with the effect of last year’s tax legislation), or whether Paul Manafort and Michael Cohen are dirtbags and President Trump might have an active sex life?
Some pundits still think they see a blue wave coming in November.
Me? I wasn’t so sure from the beginning…and I’m one whole hell of a lot less sure now.