The bandwagon is getting crowed but further confirmation needed!
November 17th 2019
Market Review
U.S. stocks gained for another week, with the main benchmark indexes scoring further all-time closing highs. Notching its fourth week of consecutive gains and rising 1.2 percent in that time, the Dow Jones Industrial Average closed at 28,004.89. The blue-chip rallied to record levels on Friday, reaching 28,000 for the first time ever. It took the Dow just over four months to go from 27,000 for the first time to 28,000. The S&P 500 rose 0.9 percent for the five days to a record of 3,120.46. It is the S&P's sixth straight weekly gain. That’s the longest streak for the S&P 500 since 2017, when it climbed for eight straight weeks. The Nasdaq rose for a seventh consecutive week, advancing 0.8 percent to a record high of 8,540.83. For the full year so far, the Dow is up about 20 percent, the S&P 500 has gained 24.5 percent, while the Nasdaq has climbed nearly 29 percent in the year to date. Nearly all key S&P sectors ended in positive territory for the week, led by health care. Financials and energy were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded around 12.1. Read MoreThe S&P 500 reached a new high, but the air is getting thinner!
November 10th 2019
Market Review
U.S. stocks continued to rally, pushing the major indexes to new record highs. The Dow Jones Industrial Average posted a three-week winning streak and rose 1.2 percent to 27,681.20 last week. The S&P 500 rose for a fifth straight week, gaining 0.9 percent to 3,093.08. The Nasdaq rose 1.1 percent during the week to 8,475.31, extending its weekly winning streak to six. Most key S&P sectors ended in positive territory for the week, led by financials. Utilities led decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended below 12.1. Read MoreStocks rallied for the week, pushing the S&P 500 to a new record high!
November 3rd 2019
