Headlines discussed at LNWM’s Monday morning briefing:
— The US added 196,000 new jobs in March, with healthcare and tech/pro services leading the way; wages gained 3.2% from a year ago.
— The S&P 500 rose 2% last week and is 1.5% from its all-time high, on optimism about US-China trade deal and US labor market.
— Hedge funds are mostly sitting out the rally in stocks, indicating concern about a slowdown in the US economy and corporate earnings.
— Herman Cain could be nominated to the board of the Federal Reserve; in 2010, Cain proposed the US return to the gold standard.
— London markets edged higher despite Brexit uncertainty, on the near-term possibility of a new U.S.-China trade accord.
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