- Markets are up around the world, US +1.03% and international +1.69%.
- The S&P 500 hits an all-time high.
- Bad political news in Washington.
- The US and Mexico are closing to finalizing an agreement on NAFTA.
- Pepsi said it would buy SodaStream International for $3.2 billion.
The S&P 500 closed at an all-time high, finishing at 2,874.60 on Friday. That beat out the previous high on January 26 of 2,872.87. Overall, US markets were up 1.03% and international stocks jumped 1.69%.
BAD POLITICAL NEWS
Markets advanced despite a swirl of bad political news, even by the standards of the Trump administration. Trump’s so-called “fixer” and former lawyer pled guilty to bank and tax fraud, campaign finance violations and said that Trump had directed him to pay money to two women to keep quiet on past relationships. Then former campaign chairman Paul Manafort was convicted on 8 different charges. It was reported that David Pecker, CEO of American Media (National Enquirer) and Allen Weisselberg, CFO of the Trump Organization, had received immunity from prosecution.
US / MEXICO
It is reported that the U.S. and Mexico are close to finalizing a NAFTA deal as soon as Monday. Breakthroughs in automobiles and energy and helping accelerate the talks. Canada would next need to get on board after the US and Mexico reach an agreement.
Bruce Konners, CPA, CFA, PFS
Past performance does not guarantee future results.
The purpose of this commentary is to provide readers with a summary of recent market and economic news. It is not intended to provide trading advice. Investors should have a long-term plan and should consider working with a professional investment advisor. The statements and opinions expressed in this article are those of the presenter(s). Any discussion of investments and investment strategies represents the presenter’s views as of the date created and are subject to change without notice. The opinions expressed are for general information only and are not intended to provide specific advice or recommendations for any individual. Any forecasts may not prove to be true. Economic predictions are based on estimates and are subject to change.