Stocks World Wide at Record Highs

Stocks World Wide at Record Highs

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.

Equity markets from Asia to Europe to the Americas rose, while the S&P 500 and NAS Comp rose to fresh closing highs, lifted by technology shares.

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)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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