FLASH: Stocks advanced for 3rd day running, driving S&P 500 back above its 50-Day MA, a Key technical mark.
Nobel Prize-winning economist Robert Shiller warns that the US-China trade war is not over from disrupting financial markets just because stocks rallied after diving earlier in the week.
“I think of it as theater. We have 2 strong politicians, Xi and Trump,” the Yale University economics professor said “This is a human interest story which bleeds over into the markets” said Mr. Shiller, who is known for his behavioral finance research.
To be sure, global stock markets have been volatile this week, but not fully for the reasons Professor Shiller espoused, there are strong Fibo technical issues in play in the consolidation of the Bull run up since 26 December 2018.
Thursday, the major US stock market indexes finished at: DJIA +214.66 at 25862.68, NAS Comp +75.90 at 7898.02, S&P 500 +25.36 at 2876.32
Volume: Trade on the NYSE came in at 759-M/shares exchanged
- NAS Comp+19.0% YTD
- Russell 2000 +15.5% YTD
- S&P 500 +14.7% YTD
- DJIA +10.9% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.