Wednesday, 22 February 2017

US stocks hit record high again

Markets rose on Tuesday.

The S&P 500 rose 0.6 percent to close at another record high.

The STOXX Europe 600 rose 0.6 percent to its highest since 2 December 2015.

Asian markets were also mostly higher, with the Nikkei 225 rising 0.7 percent.

Analysts have mixed views on whether the rally in stocks will be sustained.

“The rally is getting long in the tooth, and once the euphoria wears off we will need to know when we’ll get policies and how they will impact corporate profits,” said Katrina Lamb, head of investment strategy and research at MV Financial.

“Those waiting for the other shoe to drop can be waiting for a long time,” said Karyn Cavanaugh, senior market strategist at Voya Financial. “Economic data is coming in on the upside, global growth is accelerating, there’s an increase in M&A, and optimism is higher, so the good outweighs the bad until we get anything that changes that scenario.”

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