Tuesday, 5 December 2017

Dow hits record, “rally looks bulletproof”

Markets were mixed on Monday.

In the US, the Dow Jones Industrial Average rose 0.2 percent to close at a record high but the S&P 500 fell 0.1 percent and the Nasdaq Composite fell 1.1 percent.

Elsewhere, the STOXX Europe 600 rose 0.9 percent but the Nikkei 225 fell 0.5 percent.

US stocks were buoyed by the passage of the tax reform proposal on Saturday but were held back by the decline in large-cap technology stocks.

Still, many analysts think that the bull market has more room to run.

“This rally looks bulletproof because every area of the economy is seeing gains,” says Chris Rupkey, chief financial economist at MUFG.

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