Stocks ended the day little changed on Friday, trading in a very narrow range throughout (an 8-point range for the S&P 500), as markets felt “tired†given the recent surge to all-time highs this week. The Dow Industrials topped the 20K level for the first time on Wednesday and the S&P 500 the 2,300 level Thursday, holding above or near those levels the last few days as investors continued to sift through a busy week of earnings.
Economic data the last few days have been mixed, with disappointing housing data yesterday and GDP missing the mark Friday, but markets remain steady.
Several sectors remain active given the stance/commentary from the new Trump administration with infrastructure, materials and financials rising, while shares of retailers and grocers were hit hard today on fears they would face billions of dollars in extra import costs under the border tax being proposed (WMT, TGT, KR, BBY, etc.).
The CBOE Volatility Index (VIX) touched its lowest level since July 2014 (again) as there remains no fear in the broader market. In this extended weekend edition video we will be discussing a pairs trading opportunity…
