Salt Financial President Alfred Eskandar discusses why the Federal Reserve won’t derail the stock market rally and how Google, Facebook will be pushed into a different sector.
The Dow Jones Industrial Average closed at a record high on Thursday, its 100th record close since Election Day 2016. The stock market index has been propelled higher by economic optimism and tax reform, which have boosted companies’ earnings.
The S&P 500 closed at a record for the 89th time Thursday since the election, and numerous S&P 500 component stocks set records. Shares of companies in various sectors of the economy set records on Thursday, evidence that the strong economy is benefiting many industries.
Some consumer stocks reached records, including Nike, Lowes, Darden Restaurants; tech stocks, including Microsoft and F5 Networks; financial stocks, including Berkshire Hathaway (class B) and American Express; health care stocks, including Anthem and Amgen and industrial stocks, including Honeywell and United Technologies. – READ MORE
[divider][/divider]President Donald Trump Celebrated Stocks Hitting Their Highest Levels Ever By Congratulating The United States On The Accomplishment.
The Dow Jones Industrial Average rose 0.83 percent in morning trading Thursday, leaping over its previous record set on January 26. The S&P 500 added six-tenths of the percentage point, rising above the last record set in August. The Nasdaq Composite rose nine-tenths of a percentage point.
S&P 500 HITS ALL-TIME HIGH Congratulations USA!
— Donald J. Trump (@realDonaldTrump) September 20, 2018
Escalating global trade disputes have not weighed on the U.S. economy as much as critics of the Trump administration predicted. In fact, they have barely shown up in economic data at all. On Thursday, the Labor Department said new jobless claims last week were at the lowest level in 49 years, defying forecasts that tariffs would cost U.S. jobs.- READ MORE
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