S&P 500 Index Rallies Following Conciliatory Tone from Trump
The S&P 500 Index, often seen as a gauge of the U.S. economy, jumped 4.59% over the past week following a more conciliatory tone from President Trump on both the Federal Reserve and China. Speaking from the White House, Trump clarified he had no plans to dismiss Fed Chairman Jerome Powell, despite previous criticisms over interest rate policy. He also mentioned that the steep 145% tariffs on Chinese imports would be temporary. This marked a shift from earlier threats, when Trump proposed tariffs as high as 245% in response to China’s retaliatory measures. From a technical standpoint, the index may build onto its recent rally should it sustain its move above its pivot handle 5,456. This will enable the index to mark a new up leg that will put it back on track to revisit its all-time high of 6,144.
_____
To know more about the Trading Edge Equity Advisor, kindly click HERE. Subscribe now to receive email alerts before the price moves! Here’s what our students and subscribers say. 🙂
*Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!
