Updated: June 8, 2019
U.S. investors appeared more than happy to turn the calendar to June this week. After the Nasdaq Composite reached correction territory on Monday, the broader stock market averages rebounded more than 2% across the board on Tuesday.
Even with 5% tariff on Mexican imports set to go in effect on June 10, the initial recovery sparked a multi-day rally. The rebound was ignited by the realization that the FOMC would be more likely to step in and lower interest rates, to better reflect market pricing in the Treasury yield curve.
The May jobs report on Friday was another case where “bad news is good for stocks”.… Read more