A three-day holiday may be just what the U.S. stock market needs. Investors turned more defensive in the last week of trading before Summer kicks off on Monday with the Memorial Day holiday.
Traders bought bonds this week, pushing rates lower, while selling stocks. The trade war between China and the U.S. heated up again and investors were spooked by reports of slower growth in Europe. UK Prime Minister Theresa May also said on Friday that she will step down in June, after failing to execute a Brexit strategy in the past three years.
Elsewhere, crude oil posted its worst one-day performance for 2019 on Thursday, though remains 25% higher year-to-date.… Read more