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Sunday, September 26, 2021

US Stock Market Looked Past December NFPs in Another Record Setting Close

#stocks #record #highs #NFPs #Fed #stimulus


Fed Vice Chairman Clarida does not expect to begin tapering its asset purchases this year“– Paul Ebeling

Stocks marked all-time highs on Democrats promise of trillions more of aid/relief/stimulus to further revive the world’s largest economy.

The S&P 500 marked its 4th day running of gainers, led by retailers and Real Estate companies.

The NAS Comp 100 outperformed. The KBW Bank Index capped a rally that drove the gauge up more than 10% in 3 days. Miners joined a selloff in gold and silver, the Buck rose.

All major stock benchmarks marked records as investors focused on the prospect for more fiscal aid, including $2,000 stimulus checks after a soft December NFPs report. The 140,000 blip in payrolls highlighted how the continuing coronavirus chaos is taking a greater toll on some sectors of the economy.

Fed Vice Chairman Clarida does not expect to begin tapering its asset purchases this year.

Key Commodities: WTI Crude Oil rose 3.5% at 52.60bbl, Gold fell 3.5% to 1,847.89oz.

Friday, the benchmark US stock market indexes finished at: DJIA +56.84 at 31097.91, NAS Comp +134.50 at 13201.98, S&P 500 +20.89 at 3824.68

Volume: Trade on the NYSE came in at 1.0-B/shares exchanged

HeffX-LTN’s overall technical analysis of the major US stock market indexes is Very Bullish at the wk ended 8 January 2021

  • Russell 2000 +5.9% YTD
  • NAS Comp +2.4% YTD
  • S&P 500 +1.8% YTD
  • DJIA +1.6% YTD

Looking Ahead: Investors will not receive any notable economic data Monday

Have a healthy weekend, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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