17th July – Stocks grind higher as Trump distracts media with Fed Chair issue

In this mornings wrap, Mark discusses various market trends, focusing on the distractions caused by political maneuvers, particularly by Trump, and how they impact the perceptionof economic issues like US debt and the performance of the banking sector. The conversation also delves into the recent earnings reports from major banks, the trends in commodities, and the implications of upcoming labor market data on economic forecasts.TakeawaysTrump's distractions steer media focus away from critical issues.US debt and trade deals are overshadowed by political noise.Earnings season shows a high rate of beating expectations.Goldman Sachs reported record equity trading revenues.The banking sector remains resilient despite rising creditdelinquencies.Iron ore prices are on the rise, benefiting the materials sector.Water is emerging as a tradable commodity.BHP is undervalued and has potential for growth.Quarterly reports from miners could signal a sector rebound.The labor market data will influence future economic policies.