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Markets Looking For Any Kind of Good News This Week
The markets closed modestly lower yesterday amid increasing tensions with North Korea and a busy upcoming week for the administration.
North Korea ratcheted up their threatening rhetoric after suggesting they have the right to shoot down US bombers even if they are not in their air space. This came after the US flew a B-1B bomber, which was escorted by fighter jets, into international air space over the weekend, but which came closer to NK in years. Of course, this was in response to NK's belligerent comments, repeated and reckless ballistic missile and nuke tests, and defiance of the international community regarding UN sanctions.
The tensions don't appear likely to quiet down anytime soon. Hopefully, rhetoric is all that escalates.
Back in the US, the Trump administration is expected to unveil details of their tax cut plan tomorrow. And by week's end, we'll know whether the latest iteration of the Obamacare repeal and replace effort passes or fails.
Once again, the market's resilience is on full display. And the economic outlook remains wholly supportive.
But it would be nice to get some good news out of Washington this week. That could go a long way to calm some jagged nerves.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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The markets closed modestly lower yesterday amid increasing tensions with North Korea and a busy upcoming week for the administration.
