U.S. stocks all rise to set new records yesterday, 16th. January 2020
The U.S. markets have enjoyed a stellar start to the new year, encouraged by a number of economic factors.
Trade deal benefits
Signing of the Phase One trade deal has lifted investor sentiment as it met expectations, however much of the trade deal news is priced in.
Latest data released from banks and businesses have been positive, so far, and better than analyst’s expected. A Trump tax cut windfall handout to America’s top banks of some £32 billion has undoubtably helped.
Financial stimulus
Consumer spending is still positive and retail figures have been encouraging. Combine this with the Fed’s recent economic stimulus and interest rate cuts last year and you have the making of a pretty solid period.
But can it be sustained? We await more data reports from the earnings due to be released over the next two weeks.
U.S. stock markets at close on 16th January 2020 set new records
The Dow closed at an all time new high of: 29297. Futures continued up!
The S&P 500 closed at an all time new high of: 3317
Nasdaq closed at an all time new high of: 9357