There’s good news for everyone on Wall Street as strong corporate earnings were reported early this week led by transportation sector giants J.B. Hunt and Norfolk Southern. Johnson & Johnson also reported better than expected results for the first quarter of 2018. From the health care sector, UnitedHealth has also posted strong results since the beginning of the year. Whether these earnings were boosted by consumer confidence, the tax cuts or a combination of both is anyone’s guess, but the overall U.S. economy continues to hum along nicely despite the debt concerns we’ve mentioned in this column many times.
Silver is having a banner day, rising to a two and a half month high after breaking out above $17 an ounce. Gold, currently trading in the $1,350 range, is also up about four percent. Both are strong results for the day considering the bonus category that the equities market finds itself experiencing.
In geopolitical news, a great cooling effect is occurring across the globe as Syria and North Korea—the twin global hotspot concerns, have both quieted considerably. Not that anything has been solved, but it was revealed last night that Sec. of State nominee Mike Pompeo made a secret trip to Pyongyang for direct talks with leader Kim Jong Un. Just when we think we have a handle on things, there always seems to be another surprise.
Stay safe and have a wonderful Wednesday…
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