Today we saw the entire market make a huge jump upwards. Solely due to the fact Jerome Powell, head chairman of the Federal Reserve stated the FED will do the most to make sure the economy keeps progressing. The Dow Jones ended today up 900 points!! With high hopes we saw just about every sector turn positive, even the financial sector. This sector is theoretically suppose to be trending downwards because of insanely low interest rates, and even fears of negative rates. We saw Wells Fargo ($WFC) make a 9% gain today along with JP Morgan ($JPM) making a 5% gain. The FED keeps giving hope at the right times right before things turn grim. It’s likely that the week turns very positive by Friday all because of Powell’s strong words.
The Common Trader 