The S&P 500 climbed almost 3% last week, which was the largest weekly gain since the election.
Analysts pointed to the inflation reports from suppliers and consumers remaining steady, instead of increasing, indicating that future rate cuts were not out of the equation.
It did not hurt that the big banks reported better than expected earnings.
This was accompanied by Bitcoin climbing back above $100,000 after Trump spoke favorably about Crypto.
With the S&P 500 back near 6000, the mood on Wall Street seems much more positive.
We will have a holiday shortened trading week.
By the time the markets open on Tuesday, we will have a new President in office and projections of major actions on the agenda.
It is remarkable how quickly the mood can change.
On the global front, it appears we will have a cease fire between Israel and Hamas.
The war in Ukraine concerns are mounting as to how much more support the US will supply or can afford.
That leads me to the biggest issue to me which is handling the amount of debt this country has undertaken, it is easy to talk about cutting back, but hard to actually implement.
Once one is getting funds, they will fight to the death to maintain those funds.
I will believe it when I see it.
The only thing that has a chance is cuts across the board as was instituted during the Obama administration.
That way everyone feels the pain and participates.
It is always is an interesting time when you don’t know what the future is actually going to bring.
