US Stocks Mark New Records, S&P 500 Up 4 Weeks Running

US Stocks Mark New Records, S&P 500 Up 4 Weeks Running

US Stocks Mark New Records, S&P 500 Up 4 Weeks Running

$DIA, $SPY, $QQQ, $VXX

Stock indexes marked record highs again Friday, after a late-afternoon drive erased losses from earlier in the day. It caps the 4  straight week of gainers for the Standard & Poor’s 500 index.

Reports through the week showed that the economy is improving and corporate profits are growing more quickly than analysts expected. The encouraging data, along with hopes for lower taxes and other business-friendly policies from Washington, pushed the S&P 500 to a 1.5% rise last week.

There is a relative calmness in the markets for the VIX index, which measures expectations for upcoming volatility in the S&P 500, and for Gold, a traditional landing spot when investors are nervous.

More stocks fell than rose on the New York Stock Exchange.

US markets will be closed Monday for Presidents Day.

US Treasury yields gave back some of the gains they made earlier on the week. The yield on the benchmark 10-yr T-Note fell to 2.42% from 2.45% Thursday.

In European stock markets, the French CAC 40 index fell 0.7%, Germany’s DAX was virtually flat and the UK FTSE 100 rose 0.3%.

In Asia, Japan’s Nikkei 225 index fell 0.6%, the Hang Seng in Hong Kong fell 0.3% and South Korea’s Kospi index slipped 0.1%.

Again, the US financial markets will be closed Monday for Presidents Day.

Friday, the US major stock market indexes finished at: DJIA +4.28 at 20624.05, NAS Comp +23.68 at 5838.60, S&P 500 +3.94 at 2351.16

Volume: Trade was heavy on the NYSE with 1.16-B/shares exchanged.

  • NAS Comp +8.5% YTD
  • S&P 500 +5.0% YTD
  • DJIA +4.4% YTD
  • Russell 2000 +3.2% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.26) Neutral (0.10) Bullish (0.31) Bullish (0.38)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.34) Bullish (0.25) Bullish (0.48) Bullish (0.29)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Very Bullish (0.65) Very Bullish (0.67) Very Bullish (0.69) Very Bullish (0.58)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.25) Neutral (-0.22) Bearish (-0.49) Neutral (-0.03)

Have a terrific holiday weekend.

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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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