Trump Rally Extends: DJIA Tops 19,000
$DIA, $SPY, $QQQ, $VXX
The DJIA climbed above 19,000 for the 1st time, as US stocks added to gains that pushed four major equity benchmarks to simultaneous records for the first time since & 1999.
Tuesday, the US major stock market indexes finished at: DJIA +67.18 at 19023.87, NAS Comp +17.49 at 5386.35, S&P 500+4.76 at 2202.94
Volume: Trade was moderate with 892.5-M/shares exchanged on the NYSE
- Russell 2000 +17.3% YTD
- DJIA +9.2% YTD
- S&P 500 +7.8% YTD
- NAS Comp +7.6% YTD
Energy and commodity producers led the Trump rally in stocks Monday, adding to a post-election advance spurred by speculation the new government’s economic policies will boost growth.
The new milestone for the S&P 500 pushed the index to an annual gain of 7.6%, a recovery for a gauge that started the year down as much as 11%.
Donald Trump’s Presidential win has fueled optimism that his pledge to cut taxes and increase fiscal spending will benefit industries more geared to the economic cycle. These new equity records came as American companies ended a 5 Quarter profit slump.
Some stratigists are predicts the S&P 500 will rise another 9.2% by the end of Y 2017. “Stocks are no longer stuck in that frustrating range and we’ve finally broken through to new records. We can move on to pricing in the improving outlook: there are strong signs that the USeconomy is in good shape and that bodes well for corporate earnings.”
Traders have also boosted bets for tighter monetary policy since the vote, on speculation Donald Trump’s policies will lead to higher inflation, note there is no growth without inflation.
After Fed Chairwoman Janet Yellen acknowledged last week the strength in the economy, saying that the central bank is close to raising rates, traders are now pricing in a 100% chance of a move in December.
US markets will be closed Thursday for the Thanksgiving Holiday.
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Bullish (0.33)||Bullish (0.40)||Bullish (0.36)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.25)||Neutral (0.08)||Very Bullish (0.51)||Neutral (0.16)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Neutral (0.24)||Bullish (0.31)||Neutral (0.19)||Neutral (0.22)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.35)||Bearish (-0.35)||Bearish (-0.35)||Bearish (-0.33)|