The market gave investors a bit of the bucking bronco act over the past two days, selling off on higher volume Thursday before rebounding sharply on Friday. In both cases, the movement was news-driven. On Thursday, the Trump Administration announced the imposition of new tariffs on its allies like Canada and the European Union, sending the indexes spinning lower on much higher volume.
On Friday, a strong jobs number had the opposite effect, sending the indexes rocketing higher on increased volume. This had the effect of negating Thursday’s failed breakout attempt by the NASDAQ Composite Index. The index led all comers on Friday, rallying 1.67%, but on lighter volume.
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