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A volatile week driven by U.S. and China trade tensions and banking news ended on an upbeat note Friday. The day's rally brought wins across the board to secure a weekly gain for all three major indices.
The world's two largest economies went through all the emotions this past week. It started out well with each side making nice. The middle got a little bit ugly, but the end delivered some welcomed relief.
In the same week that some of the U.S.'s largest banks soared on earning reports, Wall Street stumbled due to concerns for regional banks. Questionable loans and fraud were the culprits. The details here.
The major indices may have wrapped up the week with all wins, but getting there was a bumpy ride at times. Wall Street's fear gauge, known as the VIX, would ride the bumps to its highest read since April.
One bit of positive news during all of the turbulence this week came from the Fed chairman. Jerome Powell again pointed at the softening labor sector as the Fed's top concern that likely needs more cuts.
The incoming week looks much like the one we just went through. Barring some issues from the shutdown, the latest CPI report is due out Friday. China will again be a major story, as will Tesla's earnings.
Investment advisory services offered through Integrated Advisors Network LLC, a Registered Investment Advisor