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Market View

 

  • Oil higher on hope for OPEC agreement on production cut extension

  • Ford (F) places CEO

  • First quarter earnings gain improves further

  • GDP report due on Friday

May 22, 2017

A Trending Market

By 4 PM May 17, investors’ nerves were on edge as the Dow Jones Industrial Average ended the trading session down 372.82 points (1.78%) and the S&P 500 was down 1.82%. The main concern was whether this was the start of a correction as political disarray threatened to postpone consideration of key proposal like tax reform and repatriation of foreign profits. But the market seemingly shoved its mid-week concerns aside and rallied through the end of the week.

Although economic data were not in the forefront of traders’ minds last Wednesday, they probably helped to generate the late-week market bounce.

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