S&P 500 rises to highest since May 24

S&P 500 rebounds from tariff worries

It’s a new month, so flows are always dominant but I’m shocked that the market is so sanguine about tariffs.

The EU, Canada and Mexico have announced retaliation or the intention to retaliate. The US has promised to retaliate to the retaliation. 

Ignoring trade, today’s jobs report means the Fed is more likely to tighten another 3 times this year.