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Anchoring … A Negotiating Tactic

Daily Recap

Well, apparently 2018 is making up for all the volatility that was missing in 2017. But at least today's volatility was to the upside. After starting the day lower, markets decided that prospects of a trade war may be overblown, and rallied strongly. Economic data showing strong expansion on both manufacturing and nonmanufacturing fronts helped to cement the gains.


After rising steadily throughout the day, the Industrials closed near their highs, up 336 points to 24,874. The Transports weren't quite as bullish, but still managed a 0.15% gain. The Nasdaq rose an even 1% and the S&P 500 bettered it, delivering a 1.10% gain. All major averages other than the VIX were higher.


Overseas markets were split with most of Europe in the green and Asia in the red. In Europe, Italy's FTSE was the only loser as the Stoxx 600 climbed 1.04% and the Europe Dow rose 1.28%. The situation was ... Log in or subscribe to continue reading.

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