S&P 500 extends gain to 1% as the rebound continues ...Middle East

The AI momentum and meme trade isn't exactly driving it with both Nvidia and Tesla down substantially. Consumer stocks like Walmart and Target are solid gainers in a sign that today's better retail sales report could be cooling some recession worries. I wasn't impressed with the details but the market may be seeing it as 'good enough' at a time when tariff uncertainty is at a high.

You could also argue it's plain, old bottom fishing and FOMO but whatever it is, the bids are solid right now. I don't mind it as I think the tariffs will soon be rolled back.

This article was written by Adam Button at www.forexlive.com.

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