Racing over the speed bump of last week’s decline, the S&P 500 hit record highs this week boosted by double-digit earnings growth and an upwardly revised GDP growth for Q1.
With President Trump overseas, markets moved past the potential obstruction of justice concerns plaguing the news. While additional news surfaced Friday about Jared Kushner’s contact with the Russians, the equity markets had a strong week with the exception of the energy sector where investors had hoped for additional supply cuts.
In Brazil, protesters took to the streets to demand the removal of President Temer. Depsite the turmoil, investors with speculative mindsets poured money into Brazil equity funds.