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Today was just another day in the stock market. The S&P 500 rose to another record high of 6875.16. Also closing at record highs were the Nasdaq, the DJIA, and the Russell 2000. Been there, done it! More record highs are likely when the Fed cuts the federal funds rate by 25bps on Wednesday.
On Thursday, President Donald Trump and Chinese President Xi Jinping are expected to meet. The stock market rose today on reports that they will agree on a framework for a potential trade deal. That would amount to a ceasefire in their trade war, with both the US 100% additional tariff on Chinese imports and severe Chinese restrictions on their exports of rare-earth minerals and magnets to the US postponed. Hooray!
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