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The Higher the Wall of Worry, The Faster the S&P 500 Climbs It
The bull market’s resilience was hard to find fault with this week. A constellation of risks that loomed on Monday, from trade tensions to the jobs report that wrecked equities last month, became reasons to buy by Friday afternoon. The S&P 500 Index ended up 3.5 percent on the week, volatility is rapidly abating and technology stocks are back at record highs. Of course, the newsflow helped. Friday’s report showed bumper hiring without the prior month’s rapid wage gains. Donald Trump compromised on his tariffs. And a planned summit between the U.S. President and Kim Jong Un buoyed hopes of a diplomatic ... (full story)