What’s going on in the world…
Market opens mixed as President Trump wraps up dinner with Kim Jong Un in Vietnam. Back in Washington, there will be plenty of political and economic developments. It’s day 2 for Fed Chair Jerome Powell on Capitol Hill. Trump Trade leader Robert Lighthizer is also in front of Congress. The subject of China and the Trade War will be front and center as Congressional leaders from both parties will be pushing for insight and clarity. Finally, former Trump lawyer and fix-it guy Michael Cohen will be on Capitol Hill providing his own testimony which is guaranteed to grab headlines all day. The Market is taking everything in stride with the S&P having cleared levels not seen since November earlier in the week, but have backed off those levels as stocks take a bit of a breather. Interest rates are ticking higher as is the Dollar in early trading. Oil is higher too. Gold is slightly lower. More volatile price action ahead.
Have a great morning,
Mike Frazier
