Quote:Yep, that is a solid day on Wall Street.

 

Oh, and when the heck did the Dow Jones hit 18,000?  Wow, just Wow

 

I don't follow the Dow as much as the S&P 500.  The S&P broke 2100 again today and in a convincing fashion.  If the final vote comes down to "stay" then I think that we are seeing a breakout of sorts.  I also believe that the Fed held off on raising interest rates precisely because of this vote in order to not cause any market instability.  They have been leaning towards 2 rate hikes this year, and I suspect the first one will probably happen in July or August.

 

For those that don't follow the stock market, the importance of interest rates and the importance of the Brexit referendum have a huge influence not only on our economy, but the worldwide economy.  Contrary to what the current administration tells us, our economy isn't exactly in the greatest shape.  As our economy goes, so does the world economy.

 

In my opinion, in a very basic fashion, if the UK votes to leave the EU, it's just a matter of time before the EU fails (economically speaking).  Right now the EU is being propped up financially by not only the UK, but also Germany.  Take a look at the current state of Greece and Spain.  Italy and France aren't too far behind.

 

Why is that important to us?  Well trade is a big issue.  If the Euro fails to lose value what would be used as a measure against a dollar?  The yen?  Not really because of the lower volume.  It would be the yuan (Chinese).

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