Stocks cruised to record highs this week. But a week ago, it didn’t look like this would be the case.
Heading into the open on Monday, traders were worried about tensions in the Middle East, and how Iran might retaliate in response to the Iranian general that was targeted and killed by a U.S. drone strike. But after a rough open on Monday, stocks finished the day in positive territory after a pretty impressive rebound.
Tuesday with rather quiet, and stocks ended with a small loss.
On Wednesday, there was a lot of movement overnight after reports that Iran had fired missiles at targets in Iraq. But stocks rallied after President Trump addressed the nation saying there were no U.S. casualties and that Iran appeared to be “standing down.”
Stocks were on the move again on Thursday. And the S&P, DOW, and NASDAQ all finished the day with new records.
On Friday, stocks opened at record highs and the DOW pushed past 29,000for the first time ever.
Here’s what traders are focusing on:
U.S. and Iran The world has been watching ever since the U.S. killed an Iranian general in Iraq with a dronestrike. But aside from some volatility in Crude Oil, traders have shrugged off the tensions in the Middle East.
Jobs The closely watched Jobs Report was released on Friday. And it was underwhelming. The report showed that 145,000 jobs were added in December, Average Hourly Earnings increased and the Unemployment Rate.