Thursday, 20 July 2017

US stocks at new record highs, expected to continue to do well

Markets rose on Wednesday.

The S&P 500 rose 0.5 percent to close at an all-time high, the STOXX Europe 600 rose 0.8 percent and the Nikkei 225 rose 0.1 percent.

“Corporate earnings have been fantastic this quarter, which is shaping up to be one of the best we’ve had in a long time,” said John Bailer, senior portfolio manager at the Boston Company.

Jim Paulsen, chief investment strategist at The Leuthold Group, told CNBC that there is a “Goldilocks sort of economy going” and so “stocks will continue to do well”.

Some technical analysts also seem to think so, according to another CNBC report.

Paul LaRosa, chief market technician at Maxim Group, sees “higher prices in the near-term”.

Scott Redler, partner with, said: “The summer time rally might have just gotten new energy, and energy could be the focus.”

Art Hogan, chief market strategist at Wunderlich Securities, said: “If you're looking for positives, some of the key factors have been established, whether it's yields on the 10-year or commodities prices.”

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