The summer holiday and earnings season is nearing its close, and overall, it has been a great one. July saw record portfolio performance despite the reignited trade war when Trump surprisingly exited U.S.-China trade negotiations. However, markets were rattled in early August when Trump announced new tariffs on Chinese imports which escalated further when the Chinese yuan, intentionally or accidentally, dropped below a key level.
Prior to that, markets set new records in July with the S&P 500 closing above 3,000 for the first time ever. The earnings season was generally positive in terms of