“The Dow Jones industrial average just did something it has never done in its 121-year history,” Fred Imbert reports for CNBC. “The 30-stock average is now up more than 5,000 points in a year, marking its biggest annual-points gain ever. This following a 200-point rally Monday which sent it to an all-time high.”
“The Dow was also on track Monday to post 70 record closes in a year for the first time,” Imbert reports. “To put that into perspective, about one of every four trading sessions this year has been a record close for the index.”
“The Dow, along with the S&P 500 and the Nasdaq composite, has had a banner year, rising 25.6 percent. The S&P 500 and Nasdaq are up 20.3 percent and 28.6 percent, respectively,” Imbert reports. “Wall Street is generally bullish on stocks heading into next year, but do not expect a repeat of this year. Strategists, on average, expect a 5 percent increase on the S&P 500.”
Read more in the full article here.
MacDailyNews Take: Strength in the markets, high employment, and strong consumer confidence bode very well for the economy in general and for makers of coveted goods, like Apple, in particular.
So, let’s light this candle, bring on the much-needed U.S. personal income and corporate tax reform and repatriation tax holiday!
U.S. economic optimism soars – December a8, 2017
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 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