Saturday, July 2, 2016

Brexit Aftermath

Weekly results: Dow, S&P 500 shake off Brexit, log best week of 2016

 U.S. stocks booked a fourth straight daily gain Friday, and the Dow and S&P 500 marked their best week this year as stocks clawed back some of the losses scored in the wake of the tumult that followed the U.K.’s decision last week to sever ties with the European Union.

Can the withering corpse that is the EU be held together? It may not matter, if Wall St. is any indication:

Markets are coming to the determination that [Brexit] matters but it is not the catastrophic event people had feared,” said Jonathan Golub, chief U.S. equity strategist at RBC Capital Markets.

 A referendum against immigration, the first of many dominoes to fall.

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