Today marks the end of the first quarter and it was a good one. After a nasty December 2018 US equities as measured by the Dow are up 11.2% while the NASDAQ is higher by 16.5%. The Dow closed out trading this week with a 211-point gain at 25,928 on lower volume. The NASDAQ was up on heavier volume and it seems the institutional buyers are once again going after tech and FANG stocks. IBD still has stocks listed as rally under pressure but BTS indicators are positive and we are watching high yield bond prices hold firm which tends to be a positive indicator of overall market action as well.
Trade talks with China seemed to end on a positive note and the White House mentioned that next week Chinese representatives will be in the US meeting with their US counterparts. IBD asked the question: “is it finally time to buy Chinese stocks?” time will tell.
The latest information out of Boeing was that early black box evidence shows the MCAS system had been engaged at the time of the crash giving clearer evidence that this system had a hand in both the Lion Air crash and the Ethiopian Air crash. This news pushed shares of Boeing higher because the gurus have been saying that if both crashes had the same issue then it will be easier for Boeing and the FAA to pinpoint and fix.