Mike’s Morning Brief – June 29, 2016

Market opens higher, trying to build off yesterday’s rally, providing more relief from the Brexit drubbing.  It was the best day for the DOW and S&P in 4 months.  Expectations are growing for a coordinated global central bank response to prevent further economic turmoil.  Global indexes continued to climb led by Europe.  Financials continue to be the strongest sector after being hit hard.  Oil continues to climb again, maintaining the strong correlation to stocks in 2016.  Gold is higher too.  There was another terrorist attack yesterday, this time at the Istanbul airport in Turkey, which killed 40 people.  Geopolitics are a major risk in the world we live in and was a major theme in the British referendum vote with open borders and migration.  It’s clearly an important issue with our Presidential election.  With all of the issues that Europe is dealing with, one has to believe that it is increasingly vulnerable right now to more terror.  We have entered a bridge of uncertainty, which spans Brexit to the election.  There are so many issues with so few easy solutions.  Global summit is the theme today as political leaders and financial leaders are congregating in various regions around the globe to discuss the state of planet earth.


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