Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow cl...
NEW YORK - Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between U.S. President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan.
The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression. “The market came to the realization that the world is not going to end,” said John Ham, financial adviser at New England Investment and Retirement Group in North Andover, Massachusetts. “Also, Powell did a 180 since last rate hike, which has put wind in our sails in the first half of the year.”
“Everybody is focused on the Trump/Xi meeting, and most investors are hoping for a ceasefire,” Ham added. “At this point it’s just a question of how much of a ceasefire we get.”
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