As expected, stock prices gapped up to start the fourth week of May 2018, thanks to a deal between the U.S. and China to not impose new tariffs on each other's goods, but beyond that move, didn't do very much else during the rest of the week.
Then again, that might have been expected too for a week preceding a long holiday weekend in the U.S., which, not uncoincidentally, made for a pretty slow news week.
Monday, May 21, 2018
- Oil rallies to multi-year highs on Venezuela worries
- Fed's Bostic repeats U.S. close to Fed's inflation, employment goals
- Wall St. rises on trade war truce; industrials lead
Tuesday, May 22, 2018
- Oil rises towards $80 as supply concerns mount
- Trump says not pleased with how trade talks went with China
- U.S. stock buybacks in earnings season top $183 billion: TrimTabs
- Wall St. slips on U.S.-China trade talk uncertainty; energy falls
Wednesday, May 23, 2018
- Oil falls on shock U.S. stock builds, OPEC supply worries
- Trump calls for new 'structure' for U.S.-China trade deal
- Trump blasts Mexico, Canada over NAFTA talks
- U.S. new home sales fall in April, housing market treading water
- Wall St. ends up as Fed seen keeping gradual approach to rate hikes
Thursday, May 24, 2018
- Fed could end tightening cycle in 2019: Harker on CNBC
- Tight supply weighs on U.S. home sales; job market strengthening
- China plans to cut import tariffs on some consumer goods from July 1: Bloomberg
- Wall Street dips after Trump cancels North Korea summit; Netflix gains
- Wall St. ends down slightly on trade, oil price concerns
Friday, May 25, 2018
- Fed faces 'agonizing' debate as rates near neutral level: Kaplan
- S&P 500 companies return $1 trillion to shareholders in tax-cut surge
- S&P, Dow fall as oil drop hurts energy; chipmakers boost Nasdaq
Elsewhere, Barry Ritholtz identified the week's positives and negatives for the U.S. economy and markets.
Welcome back from the holiday!