“That’s the highest level since early April 1986,” Cox reports, “a potential warning sign that the rush into equities is getting overdone.”
“In just over two weeks of trading, investors already have poured $14.8 billion into stock-based exchange-traded funds, another indicator of money surging in,” Cox reports. “The Investors Intelligence survey also showed that skepticism is nearly gone as the S&P 500 has posted a 3.85 percent gain in 2018. Bearishness fell over the past week to 12.7 percent, also the lowest reading since April 1986. The level was at 15.2 percent just two weeks ago and was above 20 percent the week of Sept. 12.”
Read more in the full article here.
MacDailyNews Take: Overall optimism, coupled with U.S. tax cuts and Apple’s forthcoming earning reports could catapult the company nearer to the elusive trillion-dollar valuation.
Apple expected to issue less debt in 2018 now that President Trump has signed the Tax Cuts and Jobs Act – January 16, 2018
U.S Treasury: 90% of U.S. workers likely to see more money in take-home pay next month – January 13, 2018
U.S. sees strongest holiday sales since 2010 – January 12, 2018
Dow, S&P 500 and Nasdaq rocket to new all-time records – January 11, 2018
S&P 500 and Nasdaq rise to records on first trading day of 2018 – January 2, 2018
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017
U.S. third-quarter GDP revised to three-year high of 3.3% – November 29, 2017
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017