Wall Street continues to be a bull market, as both Standards and Poor and the Dow Jones stock indexes have hit intraday highs.
Lindsey Bell is an investment strategist for the Wall Street research firm CFRA, the Center for Financial Research and Analysis. She stated that Wall Street investment is continuing to be a buyer’s market despite natural disasters and the tariffs imposed on goods by both the United States and China.
Ms. Bell explained that investors are focused on the fact that the American economy is performing well due to economic stimulus, such as tax cuts. She stated, “the new highs are being driven mostly by solid economic data. The market seemingly priced in a much more dire situation with regards to tariffs, and given the lower-than-expected tariff rate, the market is moving higher.”
On Thursday, the Dow was up by about 250 points, to a record 26,654.19, beating the previous record from January 26 of 26,616.71.
President Trump announced the S&P record on Twitter, stating “S&P 500 HITS ALL-TIME HIGH Congratulations USA!”
S&P 500 HITS ALL-TIME HIGH Congratulations USA!
— Donald J. Trump (@realDonaldTrump) September 20, 2018
The S&P did rise to a record 9 percent for the year, however, the total is 2927.30, under the December 18 record of 2938.30.
The photograph in the header was taken by Richard Drew for the Associated Press.