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The S&P 500 broke a record high on Monday it held for more than a year, as a string of upbeat economic data alongside low bond yields continued to funnel investors into U.S. equities.
Led by gains in sectors seen thriving in an expanding economy, the benchmark .SPX touched a record intraday high of 2,143.16 points to overtake the previous high of 2,134.72, hit on May 20, 2015.
This why thinking you are going to time things and buy on dips rarely works. I bet most missed it. After the first 500 points in 2 days they likely decided to wait for the roll back only it never came
You can thank the Fed for the inflated asset prices....in fact I question what more the Fed wants to see to justify a rate increase?? The Fed has accomplished it's goal of raising asset prices so now how do they step away....I'll be keeping an eye on real earnings minus buybacks & cap ex reductions.
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