Stocks closed at all-time highs on eight days during July to end the month with a gain despite a broad last day surprise sell off during Chairman Powell’s post FOMC statement press conference.
Stocks rallied to all-time highs in June bolstered by hopes for progress in the global trade wars and in anticipation of a potential reduction in the Fed’s policy interest rate.
Stocks stumbled broadly with the worst loss for May since 2010 as U.S. trade negotiations hit the wall in China. President Trump jolted the markets at month end with an unexpected new threat of an escalating tariff aimed at giving the U.S.
Merger performance in April was bolstered by deals that progressed towards completion, as well as a new investment in Anadarko Petroleum that received an overbid shortly after announcing an agreement to be acquired by Chevron.