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- S&P 500 closed on a record high after 5 consecutive winning sessions
S&P 500 closed on a record high after 5 consecutive winning sessions
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Loading...US stocks closed higher today. This time the investors enthusiasm was supported by Fed's report for slowing its asset balance. The latest economic data was slightly worse but Fed members quickly explained that this would not negatively impact the economy growth in a long term and therefore remain convinced that the slow interest rates hike and slow balance cuts are the right way. It's like traders don't pay attention about any of the negative news that come out. The China's credit rating cut by Moody's won't stay unnoticed on the markets and it could negatively affect the Asian indices.
DJIA: 74.51 points/ 0.36% - 21,012.42
S&P: 5.97 points/ 0.25% - 2,404.39
NASDAQ: 24.31 points/ 0.40% - 6,163.02
VIX: 9.96
In the S&P index all sectors increased except the energy and telecommunications as well as some individual bank stocks that were little bit down. Technological sector is the best-performing and also utilities and real estate companies.
Dow Jones was up mostly because of the Goldman Sachs stocks.
Oil prices reported a slight decline to $51.29 a barrel but this did not negatively affect the indices. The dollar was down against the most currencies today and our attitude remain negative in a short term. DXY (Dollar index) fell again and is about to test the final support at 96.80. The euro continued to rise supported by the weak dollar.
Chart source: Bloomberg Pro Terminal
Senan Fuchedzhiev - Trader
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