Wall Street ended the week on a positive note, with stocks hitting fresh all-time highs amid solid earnings and hopes for US trade deals. After an uneventful meeting between Donald Trump and Jerome Powell, the Treasury market barely budged. The dollar climbed.
In the run-up to the busiest week for corporate results, the S&P 500 rose for a fifth straight day, approaching 6,400. While the rally has stoked concerns about inflated prices amid a rush to risky corners and a revival of the meme-stock mania, it’s been hard to bet against the bullish trend. A closely watched gauge of equity volatility – the VIX – closed below 15.