Market opens higher to begin October. NAFTA 2.0 has been reached as the US and Canada carved out a deal last night. Trade wars seem to be finding resolution, one deal at a time. President Trump is claiming victory. The US Stock Market is the scoreboard. Global stocks are playing catch up. The Market likes it. The new Qtr begins with serious momentum. September, the worst month on the calendar for stocks, turned out to be strong. In fact, the S&P 500 just finished its best Qtr since 2013. We are now embarking on the strongest period for stocks. Q4 is generally the strongest, with December being the best month on the calendar. However, the last 20 years October has been the strongest month of the year for the S&P 500. But a deal with China is nowhere in sight. Talks have stalled, and any movement is likely pushed out until after the midterm elections. The Chinese stock market is closed for a holiday. Italy is showing more stress which infects the rest of Europe. Crude prices are higher in early trading as are interest rates. The Dollar is lower.
Have a great morning,
Mike Frazier
