This was clearly a week full of surprises for the people of United States. From the U.S missile strike in Syria to the year’s weakest jobs report, there was palpable gloom everywhere but the stock market managed to draw inspiration from some unknown resources. Nothing could shake the equities that are sitting pretty at record levels right now. That’s welcome news in such trying times.
Market analysts are somewhat perplexed that the U.S markets are holding up but doing pretty well even as geopolitical tensions continue to simmer and the Donald Trump administration continues to appear clueless when it comes to financial regulation. The markets were expected to experience high volatility in such circumstances but stocks have remained steady.
The losses in financial firms were cancelled by impressive gains in the energy sector and real estate companies. Commodity prices also made good progress and investors shifted to stocks in utilities and consumer staples sector. The decline for banks and brokerages was a measly one percent. For the fourth week running, bonds strengthened and gold made good progress even as the cruise missiles were raining down select targets in Syria.