Market Overview:
Equity markets in the US turned back into positive territory Friday, the Dow up 1.4% although there is a way to go to match the late January high of 26,616. The Nasdaq is also trading above 1% for the day. The big mover was Crude, down 3.3% to trade back below 60.00 plunging more than $5.00 amid a surging US Oil production, suggesting the oversupply could be a theme over 2018. The US government has ended the short shutdown with the agreement of raising the federal budget cap by nearly $300 billion, signing a two-year spending deal. Meanwhile medical marijuana continues to grow in support across the US. Virginia last week allowed state residents to take cannabis oil for treatment of severe epilepsy and cannabis stocks are on the high with more widespread acceptance. The Canadian leader Trudeau spoke on Friday on NAFTA as he tries to win support from US lawmakers to keep trump from boycotting the North American free trade agreement as he has threatened to do several times, this comes where US trade representative Robert Lighhizer grows more frustrated with the government. The last session of the week was reasonably calm after a huge amount of volatility. The USD and the Japanese Yen (JPY) gained ground while the Pound (GBP), EUR, Aussie Dollar (AUD) and New Zealand Dollar (NZD) all depreciated following the stock market crash on Monday and again on Thursday. Read more