Shrugging and buying has become a trademark of the easy money days since the crash in 2008 and recovered which started in 2009. Monday's buying spree comes at the tail end of the second longest bull market in history, and is likely a sign that the market is nearing exhaustion rather than a sign that everything is going swimmingly.
There was no noteworthy news to bring out the buyers.
Oddly enough it was the Dow Jones Industrial Average that led the way, posting its best gain in month. On June 6, the Dow ramped higher by +346.41.
Even odder, the three other indices posted identical gains of 0.88%.
Oddities will continue as traders pore over a flood of second quarter earnings reports the next few weeks.
Dow Jones Industrial Average July Scorecard:
Date | Close | Gain/Loss | Cum. G/L |
7/2/18 | 24,307.18 | +35.77 | +35.77 |
7/3/18 | 24,174.82 | -132.36 | -96.59 |
7/5/18 | 24,345.44 | +181.92 | +85.33 |
7/6/18 | 24,456.48 | +99.74 | +185.07 |
7/9/18 | 24,776.59 | +320.11 | +505.18 |
At the Close, Monday, July 9, 2018:
Dow Jones Industrial Average: 24,776.59, +320.11 (+1.31%)
NASDAQ: 7,756.20, +67.81 (+0.88%)
S&P 500: 2,784.17, +24.35 (+0.88%)
NYSE Composite: 12,776.92, +112.04 (+0.88%)
No comments:
Post a Comment