US Stocks Rise to Record Highs, as The Trump Rally Extends
$DIA, $SPY, $QQQ, $VXX
The US equity market started this week on a positive note as all 3 major indices: the S&P 500 (+0.2%), the NAS Comp (+0.3%), and the DJIA (+0.4%) finished Monday’s session at new record highs. MTD the S&P 500 holds a gainer of 1.5%.
Gains in Crude Oil and Copper drove a gauge of commodities to a 6-month high.
WTI Crude Oil +0.8% to 51.86 bbl, Copper +3.4% to 3.24 lb
US Treasury’s fell after Fed Chairwoman Janet Yellen suggested gradual rate increases are warranted despite soft inflation.
Ms. Yellen said Sunday her “best guess” is consumer prices will soon accelerate after a period of surprising softness, a forecast echoed by ECB President Mario Draghi and Bank of England Governor Mark Carney.
Fed speakers and the publication of the Beige Book this week may provide further clues about the US policy path.
Earnings season gets into full swing with major US financial firms including Morgan Stanley, Goldman Sachs Group Inc. and Blackstone Group LP. posting results. Netflix Inc. and General Electric Co. are also reporting this week.
Monday, the Major US stock indexes came in at: DJIA +85.24 at 22956.96, NAS Comp +18.20 at 6624.00, S&P 500 +4.47 at 2557.64, posting fresh record highs across the board.
Volume: Trade in the NYSE came in light at: 695-M/shares exchanged
- NAS Comp +23.1% YTD
- DJIA +16.2% YTD
- S&P 500 +14.2% YTD
- Russell 2000 +10.7% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.53)||Very Bullish (0.52)||Very Bullish (0.69)||Bullish (0.38)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.47)||Bullish (0.37)||Very Bullish (0.60)||Bullish (0.42)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.31)||Neutral (0.21)||Bullish (0.31)||Bullish (0.40)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.36)||Bearish (-0.34)||Bearish (-0.35)||Bearish (-0.39)|