The S&P 500, Dow-30, and Nasdaq 100 closed at new highs, despite a slowing global economy, ongoing U.S.-China trade war, and impeachment drama.  The Dow was the best performer (we are long DIA), up 1.2% for the week.

Recession fears have subsided also with rising yields, even if growth slows.

Despite Trump’s plead for lower rates to match worldwide low yields, Fed Chief Powell says the “very, very low and even negative rates that we see around the world would not be appropriate for our economy.”

Powell said that he finds the current economic situation “sustainable.”

The VIX closed at 12.05, its lowest level since April, a sign of investor complacency.


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