US Stock Indexes Mark New Record Highs, Financials Lead

US Stock Indexes Mark New Record Highs, Financials Lead

US Stock Indexes Mark New Record Highs, Financials Lead

$DIA, $SPY, $QQQ, $VXX

The major US stock market indexes are trading at record marks driven by gains in financial, technology and industrial stocks, with focus on the FOMC’s policy meet Tuesday and Wednesday, as The Trump Rally extends.

Shares of the major banks, including Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), and JPMorgan (NYSE:JPM), rose more than 1%.

7 of the 11 major S&P sectors were higher, led by a 0.95% gainer in the financial index .SPSY.

Boeing (NYSE:BA) and Caterpillar (NYSE:CAT) rose more than 1.5%, providing the biggest boosts to the DJIA, while Nvidia’s (NASDAQ:NVDA) near 5% spike drove the S&P 500, and the NAS Comp higher.

Investors returned to risk on as tensions eased on the Korean Peninsula after US Secretary of State Rex Tillerson talked of “peaceful solution”.

Market will shift its focus to the FOMC’s 2-day meeting, that starts Tuesday. The meeting is unlikely to result in an interest rate increase.

Persistently weak readings of inflation that have remained below the Fed’s 2% target rate have been a concern for policymakers.

The Fed is expected to announce plans to begin unwinding its $4.2-T portfolio of Treasuries and mortgage-backed securities, 10 years after the global financial crisis.

Monday, another day, another record high, the US major stock market indexes finished at: DJIA +63.01 at 22332.65, NAS Comp, +6.17 at 6454.61, S&P 500 +3.64 at 2505.32

Volume: Trade on the NYSE came in moderate at: 822-M/shares exchanging hands.

  • NAS Comp +19.9% YTD
  • DJIA +12.9% YTD
  • S&P 500 +11.8% YTD
  • Russell 2000 +5.5% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.47) Bullish (0.42) Very Bullish (0.54) Bullish (0.46)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.31) Very Bullish (0.50) Neutral (0.19) Bullish (0.25)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.44) Very Bullish (0.51) Bullish (0.35) Bullish (0.46)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.44) Bearish (-0.37) Bearish (-0.35) Very Bearish (-0.58)

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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