A extra dovish Fed has been a tailwind for danger trades and even after some late profit-taking yesterday, it does not boring the shine from earlier within the week. European indices are sustaining a very good temper right now with the DAX and CAC 40 each having hit recent file highs throughout the week and US indices are additionally on the highs for the yr.
The S&P 500 is on track for a seventh straight week of positive factors, up 2.5% this week, and through that run, the index has gained by almost 15%:
S&P 500 index weekly chart
It’s now lower than 2% away from a recent file excessive with futures pointing to a 0.3% achieve in the mean time forward of the open later.
Regardless of there being notable headwinds for the worldwide economic system and the inflation monster not fairly defeated simply but, shares are on their approach to scale to new heights as soon as extra. Should you ever want extra proof that the inventory market will not be the economic system, this might be it.
