S&P 500 record high

S&P 500 sets new record

The S&P 500 on Monday 13th January 2020 set a new all time record.

Record close

The index closed up at: 3288 – far far higher than that predicted by analysts. Indeed, many analysts in December revised their own predictions up! I’m guessing they pretty much got that one wrong. What do you think?

Nasdaq up too

The Nasdaq set a new record too closing up at: 9274 The Dow trailed after breaking 29000 on Friday.

Much of the S&P 500’s recent gains has been attributed to the ‘Phase One’ U.S. – China trade deal due to be signed on Wednesday 15th January 2020. I suspect three interest rate cuts by the Fed in 2019 helped too.

Also, the U.S. removing China from their ‘currency manipulator’ list has helped lift stocks too.

To be continued?

The U.S. economy is apparently doing very well – let’s see how the next reporting season performs and if the economy can continue to grow?

Remember, just a few short months ago we were all troubled by yield curve inversions and the threat of global recession.

Remarkable how things change so quickly!

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