After a mix market week, the end-result of US-China Trade meeting and short-handed numbers compared with the Jobs expectation and its revision the equities have found a resounding support that turned into a triple digit advance at the closing of trading as of May 4, 2018.
DOW Jones Industrial Average finished at 24262.51 briefly touching a critical support at 23380 dipping a low at 23333 before it turned up towards the close, As the market reconciled the jobs report and unemployment figures at 3.9%, these were overshadowed by the recent revelation of Warren Buffet's Berkshire Hathaway encouraging 1st quarter acquisition in the tune of 75M shares of Apple #AAPL.
This move simply gave a stronger market catalyst to move to the direction that accompanied the DOW's move by both NASD Tech stocks and SP500 both finishing higher for the week. Closing at 7209.62 +121.47 = +1.71% and 2663.42 +33.69 = +1.28% respectively for the week.
With that said, the sudden shift took some time to materialize as market participants remained at awe from the news but firmly got a good grip with tech stocks making a convincing rebound towards the close.
Meanwhile, the USD remained well at the higher end of the band remaining above the 92.50 basis point level. Although, investors shifting in between the USD and equities market have been consistently clear, the market behavior for bulls coming back from the lows remain high as bargain hunting for better prices have built up for tech stocks.
With that said, the sudden shift took some time to materialize as market participants remained at awe from the news but firmly got a good grip with tech stocks making a convincing rebound towards the close.
Meanwhile, the USD remained well at the higher end of the band remaining above the 92.50 basis point level. Although, investors shifting in between the USD and equities market have been consistently clear, the market behavior for bulls coming back from the lows remain high as bargain hunting for better prices have built up for tech stocks.
