Trump Rally Extends, DJIA, S&P 500 & NAS Comp at Record Highs
$DIA, $SPY, $QQQ, $VXX
Wednesday, US stocks climbed into record territory, as the DJIA closed over the 20,000 mark for the 1st time as solid earnings and optimism over US President Donald Trump’s pro-growth initiatives extend the post-Election Trump Rally.
President Trump has made several business-friendly decisions since taking office last Friday, including signing executive orders to reduce regulatory burden on domestic manufacturers and clearing the way for the construction of two oil pipelines.
The S&P 500 and the NAS Comp indexes also closed at record highs for a 2nd session running.
Participants are encouraged to see financials acting well again because they are the leadership in here.
President Trump marked the moment with a Tweet from the official account of the office: “Great!#Dow20K”.
Sentiment was also lifted by better-than-expected Q-4 earnings. Of the 104 S&P 500 companies that have reported results through Wednesday morning, nearly 70% have beaten expectations, according to Thomson Reuters I/B/E/S. Earnings are expected to show growth of 6.8% for the Quarter, the strongest in 2 years.
The 42-session surge from the DJIA’s 1st close above 19,000 marks the 2nd-shortest length of time between such market milestones.
A 1.7% rise in financials paced the advance for the S&P 500, while names sensitive to a climb in interest rates: utilities, real estate and telecoms lost ground.
Wednesday, the major US stock market indexes finished at: DJIA +155.80 at 20068.64, NAS Comp +55.38 at 5656.33, S&P 500 +18.30 at 2298.37
Volume: About 7.03:B shares changed hands in US exchanges, more than the 6.37-B daily average over the last 20 sessions.
- Russell 2000 +1.9% YTD
- DJIA +1.6% YTD
- S&P 500 +2.7% YTD
- NAS Comp +5.1% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.41)||Neutral (0.14)||Very Bullish (0.54)||Very Bullish (0.54)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.33)||Neutral (0.13)||Very Bullish (0.54)||Bullish (0.33)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.52)||Bullish (0.48)||Very Bullish (0.56)||Very Bullish (0.53)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.44)||Bearish (-0.37)||Very Bearish (-0.74)||Neutral (-0.21)|