US Stock Market Behind President Trump on Government Shutdown
$DIA, $SPY, $QQQ, $VXX
US stocks rose to new records Friday, as the pending government shutdown proved No Match for the New Year Extension of The Trump Rally.
Trading ranges were pretty narrow for most of the day, but a late wave of buying has the major averages at their session highs.
Nonessential government operations will halt if Congress fails to pass a new funding measure before Midnight.
The US House of Representatives passed a bill that would extend funding for another month on Thursday evening, but its passage in the Senate, where Republicans need Democratic help to reach the 60-vote threshold has not been determined.
Senate Minority Leader Chuck Schumer (D-NY) met with President Trump Friday afternoon, but said after the meeting that they still have “a good number of disagreements.” Senator Schumer said discussions will continue.
On Wall Street, the political drama did not dampen the sentiment, which has been Very Bullish since the start of Y 2018.
Nine of the 11 sectors advanced on Friday with the consumer staples sector (+1.1%) setting the pace.
On the Week
It was another good week on Wall Street; the DJIA + 1.0%, the NAS Comp + 1.0%, and the S&P 500 +0.9%.
Friday, the major US stock market indexes finished at: DJIA +53.91 at 26071.72, NAS Comp +40.33 at 7336.37, S&P 500 +12.27 at 2810.30
Volume: Trade on the NYSE came in at: 1,01-B/shares exchanged
- NAS Comp: +6.3% YTD
- DJIA: +5.5% YTD
- S&P 500: +5.1% YTD
- Russell 2000: +4.0% YTD
Overall the US major stock market is Very Bullish across the board.
Have a terrific weekend.
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