The markets are holding relatively well considering all of the bearish global news. The SPY and QQQ had marginal weekly gains, with the DIA marginal loss on the weakness of BA and JNJ on Friday.
The federal-funds futures have raised the odds of another FOMC rate cut to 89%, despite some FOMC board members questioning the need for it.
The Fed also has begun buying $60 billion a month of Treasuries, reversing the quantitative tightening that occurred as the Fed reduced its assets.
The U.S. Dollar Index dropped 1.2% this past week, its lowest level since July. A falling dollar could boost U.S. multinationals and economically sensitive stocks. Trump is in favor of this with his desire for lower interest rates.
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