Wall St. winds down best June in generations on G20 optimism

by   |  VIEW 304

Wall St. winds down best June in generations on G20 optimism
Wall St. winds down best June in generations on G20 optimism

On Friday, the 28th of June 2019, three key indexes of Wall St. had added gains, while the Standard & Poor 500 alongside Dow Jones Industrial Average had posted their best Junes in more than six decades ahead of a high-stake Trump-Xi meeting tomorrow (June 29th) that might have offset nearly a year-long trade tensions between the world’s first- and second-largest economies.

Apart from that, according to Refinitiv data, during the first half of the year, Wall St. had witnessed a remarkable run, with S&P 500 posting it best June since 1955 and Dow Jones adding its largest percentage gain in June since 1938.

Besides, the S&P 500 had posted its best first-half gains since 1997, remarking an upsurge of 17.3 percent so far this year. Referring to Fed’s U-turn on its rancorous cycle of rate-hiking, a financial adviser at New England Investment and Retirement Group in North Andover, Massachusetts, John Ham said, “The market came to the realization that the world is not going to end.

Also, (Federal Reserve chair) Powell did a 180 since (the Fed’s) last (interest) rate hike, which has put wind in our sails in the first half of the year”. Quoting statistics, on Friday’s (June 28th) market wrap-up, Dow added 0.28 percent to 26,599.96, S&P 500 gained 0.58 percent to 2,941.76, while Nasdaq rose by 0.48 percent to 8,006.24.

Wall St G20

• Why has Wall Street culture been criticized?
• G20 Announces Infrastructure Project to Connect Europe, Middle East, and South Asia
• Türkiye Advocates for Renewal of Food Agreement with Russia at G20
• Brazilian President: We Won't Arrest Putin if He Attends G20 Summit
• Xi Jinping's Absence at G20: Diplomatic Disquiet or Domestic Dilemmas?
• VinFast: The Vietnamese Underdog Overtaking Titans on Wall Street