What’s going on in the world…
Market opens higher to extend the rally, which yesterday brought the best day for stocks since last August. This morning is a near repeat. It’s really just unbelievable how this Bull continues to charge higher in the face of anything in its path. The fears of the coronavirus spread seems to have abated, despite the death toll rising. The economic impact has yet to be felt, but it will take away activity. Global markets rallied overnight. Increased liquidity is the Market medicine that keeps giving. Stocks just can’t stay down. The all-time highs are back in reach. The President absolutely loves it. President Trump gave the State of the Union last night and the political divide was on full display. The President didn’t shake the hand of the Speaker of the House and the Speaker tore up her copy of the speech in plain view. You really can’t make this stuff up. The Senate impeachment trial will end today when Senators vote on whether to acquit Trump on charges of abuse of power and obstruction of Congress, or to convict him and remove him from office. Acquittal is a done deal. It’s another risk on day. Stocks are higher. Bonds are lower, with higher yields. The Dollar is up. Oil is up. Gold is down. The VIX is down.
Have a great morning,