Stocks World Wide at Record Highs
$DIA, $SPY, $QQQ, $VXX. $DAX
The Trump Bull Market Rally is Up and Running
Major world stock markets rallied and government bond yields fell Tuesday as strong corporate profits, steady global growth and low inflation provide few alternatives for investors outside of stocks.
The DJIA set a new intra-day high.
In Asia, the main Hang Seng index in Hong Kong and China’s H-shares index posted their best day in seven weeks, while stocks in Tokyo also rose.
In Europe, Germany’s benchmark DAX index jumped more than 1% before paring gains. MSCI’s emerging markets index rose 1.44% and its gauge of stocks across the globe gained 0.71&.
Certainly sentiment is pretty strong and it’s widespread, both from the business community and consumers. Any economic concerns are pretty much falling by the wayside.
Corporate earnings and expanding growth have propelled the stock rally while investors shrug off political risk. Wall Street trading volumes were low in a week marked by the U.S. Thanksgiving holiday.
Earlier in Europe, Volkswagen (OTCMKT:VLKAY) was among Germany’s top gainers for a 2nd day, closing up 3.0%, after the carmaker raised its mid-term outlook Monday.
The pan-European FTSEurofirst 300 index closed up 0.45%.
Goldman Sachs raised its earnings estimate for the S&P 500 in Y’s 2018 and 2019 based on expectations of US corporate tax reform, above-trend global and US growth and slowly rising interest rates from an historically low base.
Investors are not worried about an unwelcome surprise acceleration of US inflation that could rock a scenario where growth supports earnings and central banks are unlikely to act in a heavy-handed fashion
Tuesday, the US major stock market indexes finished at: DJIA +160.50 at 23590.83, NAS Comp +71.76 at 6862.47, S&P+16.89 at 2599.03
Volume: Trade on the NYSE came in at: 828-M/shares exchanged
- NAS Comp +27.5% YTD
- DJIA +19.4% YTD
- S&P 500 +16.1% YTD
- Russell 2000 +11.9% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.53)||Bullish (0.38)||Very Bullish (0.62)||Very Bullish (0.58)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.40)||Neutral (0.17)||Very Bullish (0.52)||Very Bullish (0.50)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.62)||Very Bullish (0.73)||Very Bullish (0.60)||Very Bullish (0.53)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.30)||Neutral (-0.04)||Very Bearish (-0.53)||Bearish (-0.33)|
Latest posts by Paul Ebeling (see all)
- Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs - September 16, 2019
- Commentary: Paul Ebeling on Wall Street - September 16, 2019
- Bahrain is the Top Middle East Destination for Expats - September 16, 2019