Message from Jon
It is earning season, and thus far, we are seeing some notable names making a good show of it. This week, 164 S&P 500 companies will be reporting, the FED will conclude a meeting Wednesday on monetary policy and is expected to keep things as is for the time being, and the ISM Manufacturing index is expected to remain steady according to Eric Kuby of North Star Investment Management.
We are seeing Stormguard declining as of late, going from 0.10 to 0.06% into the bull sentiment, indicating continued caution at the moment as well. We have been here before, so being careful not to borrow trouble, we will stay in the moment and refrain from speculating.
With historical highs in the indexes, who gets the credit? President Trump would take as much credit for historical highs in the markets as one would let him. I find history however, would disagree.
Till we speak again, stay dry!
S&P 500 Reaches a New Peak
WEEKLY UPDATE - APRIL 29, 2019
The Week on Wall Street
Stocks returned to record territory, with both the S&P 500 and the Nasdaq Composite closing at historic highs. The S&P gained 1.20% for the week; the Nasdaq, 1.85%. The Dow Jones Industrial Average lagged, losing 0.06%. The MSCI EAFE index of international stocks lost 0.52%.
The S&P took only 17 weeks to fully rebound from its December low.