Good Morning,
G-20 trade talks over the weekend provided a feel good session with no concrete actions to be taken. Investors saw this as another reason to sell off the dollar which has been a good tonic for the US stocks of late. However, it’s not a good long term cure for what ails us. In general, a stronger economy means a stronger dollar and rising stock market. So let’s hope this devaluation party doesn’t last for too long. As noted in previous commentaries, the focus is coming off earnings and back to other economic indicators. We have a slew of them on tap this week. If things are generally above expectations, then we should get to the old highs of Dow 11,300 shortly…and hopefully beyond.
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Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
