S&P 500 extends gain to 45-points and a fresh record

The S&P 500 is up 45 points to a fresh record at 6185.

It’s bee a great week for stock markets following the Iran-Israel war and the S&P 500 is up 3.6% WTD. The market isn’t rattled by Trump trade comments as it’s concluded that tariffs won’t be overly inflationary and that other countries aren’t likely to retaliate.

Technically, a close anywhere above 6147 — which was the Feb high — is bullish and the higher the better. Next week is holiday-shortened by July 4 and the turn of the quarter could have some impacts. Beyond that, we will have to wait for meaningful economic data or comments on demand from corporates.

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