Bullish sign
The trading has stopped for this week and look at the chart, guys. The S&P index made a new ATH, closing the week at 6.173 points! The daily high yesterday already was at 6.188 points. If we look at the YTD performance we are up +5%, over the last two years we are even at +41%.
As I said in my previous post, the rallye is driven by the Tech giants, mainly Microsoft and NVIDIA, which are also at ATH levels, but yesterday also Nike had a big day. The sports giant reported better than expected quarterly numbers. $NKE rose +15% as a result.
Next week and beyond
Coming week we will get some more info about the US economy which will be relavant: ISM Manufacturing PMI and JOLTS report on Tuesday, Thursday the June-Non-Farm-Payrolls. Friday is Independance Day, Wall Street will be closed.
As we are entering into the holiday season now I don’t expect much of the coming weeks. Volumes will lower and News will be thinner. But the 9th of July is nevertheless an important date, since US tariff pause officially ends there. Deals with UK and China are already done, India and EU are still open. We will see if that can add some momentum. Trump already said the date is flexible, we wilm see what happens.
