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The prices of U.S. stocks continued to rise throughout August based on surprisingly positive 3Q GDP projections, accommodative monetary policy signals (with the market interpreting Chairman Powell’s most recent remarks as being dovish), and apparently successful trade negotiations with Mexico.
Markets got off to a rocky start today, with recent comments from members of the Federal Reserve suggesting that the upcoming schedule for interest rate hikes could be accelerated, based on stronger than expected wage growth and job numbers.
In today’s news, there was continuing fallout from the release of excerpts from Bob Woodward’s new book, and from Wednesday’s anonymous article in the New York Times Op-Ed pages.
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