S&P 500 up 34 points, or 1.3%
Every day that passes adds some time decay to trade war worries and stories. The market is increasingly immune to bluster and sanguine on the real-world consequences.
That's probably the right reaction, given everything we know.
At the same time, economic data has disappointed globally and that's not such a bad thing either. It means central banks are likely to be more cautious on raising rates. We will get a clue in Wednesday's Bank of Canada decision.
Technically, the S&P 500 filled in the gap lower that came on March 21 -- that was the day Trump signed the China trade tariffs and said "this is the first, but this is the first of many".
