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Large Speculator Positions on the S&P 500 Index Last Week

Ricky Cove
Large Speculator Positions on the S&P 500 Index Last Week

In the week ended March 9, 2018, the S&P 500 index closed at 2,786.57, rising by 2.4% after President Donald Trump turned flexible with his tariffs, allowing concessions for Canada and Mexico. The decision to introduce tariffs unnerved markets and generated resistance from domestic and international trade bodies, and President Trump’s softened stance allayed any fears about a global trade war, resulting in the equity rally on March 8. All the sectors within the S&P 500 Index registered gains last week, with S&P 500 industrials (XLI) gaining close to 4.4% after the concessions for Canadian and Mexican steel (SLX) and aluminum imports were announced.