Market opens higher to start the new week. Deals are the theme, as the last minute arrangement with Mexico on Friday negated the tariff increase for now. United Technologies and Raytheon announced a merger over the weekend, resulting in what would be an industrial behemoth. This combined company will compete much better against Boeing, which has been so dominant for so long. SalesForce is buying Tableau software, making a massive investment in data sorting in the cloud. Investment is very bullish, and that’s what’s happening right now. The Market likes it. Despite the weakening economic and earnings data of late, the Market continues to remain elevated. Central banks are still playing a major role, and are expected to keep injecting stimulus into the system. The Fed meets later this month. Interest rates are higher, Gold is lower and Oil is flat. Stocks have gone from oversold in May to overbought in June, just like that. Expect the volatility to continue.
Have a great morning,
Mike Frazier
