U.S. markets climbed to new highs Wednesday as the post pandemic upward momentum gained strength
As the U.S. economy re-opens at break neck speed, financial rewards continue to flood the stock market. U.S.monetary and fiscal policy backed up with a tsunami of Fed ‘easy’ money have dramatically helped the economic recovery. But this has also fuelled inflationary fears, interest rate concerns and pushed debt to new all time highs.
Have the markets now been over cooked?
New highs
The Nasdaq on Wednesday 22nd June 2021 reached a new all time record closing up at: 14253
The S&P joined the party to close at: 4246 just off its all time high of 4255 attained on 14th June 2021.
The DOW, dropped to: 33290 on the 18th June after much volatility in recent weeks climbed back to close at: 33945. The DOW touched 34756 its all time high 4th June 2021
Taper time?
Inflation, interest rates and talk of tapering have started to have an affect on market movement and with so much ‘cheap’ money sloshing around the financial system the froth is building.
This level of debt is unsustainable and in my opinion a market correction is due soon, very soon.