Saturday, 26 November 2016

US stocks hit record high as money flows out of bonds, real estate and gold

Stocks rose on Friday.

The S&P 500 rose 0.4 percent to hit another all-time high. The STOXX Europe 600 rose 0.2 percent while the Nikkei 225 rose 0.6 percent.

“Nothing is stopping the market at this point,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners.

However, other markets did not do so well on Friday.

US Treasuries fell. The yield on the 10-year note rose to 2.359 percent, the highest close since July 2015, from 2.355 percent on Wednesday.

Oil fell, with US light sweet crude tumbling 4 percent.

According to fund-tracker EPFR Global, money flowed out of government bonds, US real estate and gold funds and into the US equity market in the most recent week.

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