The Trump Rally Extends, Driven by Energy and Jobs Creation Vow
$DIA, $SPY, $QQQ, $VXX
Thursday, US stocks indexes finished higher driven by energy stocks and a renewed pledge by President Donald Trump to CEOs of 25 of major US companies to bring millions of jobs home to the United States.
The S&P 500 posted 65 new 52-week highs and 2 new lows; the NAS Comp recorded 132 new highs and 39 new lows.
At the meeting President Trump said he plans to bring millions of jobs back to the United States
That endorsement from some of the major corporations around our Republic and around the world suggests to investors that this is a new era.
President Trump is expected to introduce a series of proposals that could benefit companies, including tax reforms, a reduction in regulation and increased infrastructure spending that were Key elements of his election campaign.
Those promises have helped drive equities to record highs, with the S&P 500 up more than 10% since the Presidential election.
President Trump is scheduled to address a joint session of Congress on February 28.
The DJIA managed to mark a record high for a 10th session running, the longest streak since Y 1987.
Thursday, the US major stock market indexes finished at: DJIA +34.72 at 20810.32, NAS Comp -25.12 at 5835.53, S&P 500 +0.99 at 2363.81
Volume: Trade on the NYSE was heavy with 1.07-B/shares exchanged.
- NAS Comp+8.4% YTD
- S&P 500 +5.6% YTD
- DJIA +5.3% YTD
- Russell 2000 +2.8% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.27)||Neutral (0.09)||Bullish (0.34)||Bullish (0.38)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.30)||Neutral (0.13)||Bullish (0.48)||Bullish (0.29)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.56)||Bullish (0.42)||Very Bullish (0.69)||Very Bullish (0.58)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.38)||Bearish (-0.41)||Bearish (-0.39)||Bearish (-0.33)|