Equityworld Futures-US stocks closed at an all-time at the end of trading the weekend on Saturday morning (10/12), with the major indexes recorded their best week since the US election.
The Dow Jones Industrial Average rose about 130 points towards the close, the stock 3M and Apple contributed most to gain.
The Nasdaq composite index rose about 0.5 percent, with Apple shares advanced more than 1.5 percent.
The S & P 500 rose 0.6 percent, with consumer staples sector and health care leading the gains.
All the major indexes have reached record highs since the election. In fact, the Dow has recorded 14 record close since then and gains in 20 of 24 sessions.
The Dow Jones, S & P 500 and Nasdaq also did something that happened more than five years: three indexes rose every day at this week’s trading. The last time the third rise every day for a week the same trading in September 2011.
Equityworld Futures US President-elect Donald Trump shocked the world by defeating former Secretary of State Hillary Clinton, who is the heavy favorite to win. Since then, the optimism of fiscal stimulus, deregulation of certain sectors and tax cuts have flooded the market.
The US stock market has also successfully overcome a number of potentially adverse events, including a key referendum in Italy and the European Central Bank’s decision to resume its quantitative easing program, begun in April 2017.
Investors will watch next week’s meeting of the Federal Reserve, the US central bank is expected to announce the majority of tighter monetary policy on Wednesday. According FedWatch tool CME Group, market expectations for a rate hike next week is above 95 percent.
In economic news, consumer sentiment for December hit its highest level since January 2015 and wholesale inventories for October showed a decline of 0.4 percent.
US Treasuries fell on Friday, with the two-year yield rose to 1.1369 percent, while the yield on 10-year advance to 2.4665 percent.
The US dollar rose 0.54 percent against a basket of currencies, building sharp gains on Thursday following the ECB announcement.
The Dow Jones Industrial Average rose 142.04 points, or 0.72 percent, to 19,756.85, with the highest increase in shares of Coca-Cola and Caterpillar shares experienced the biggest decline.
The S & P 500 rose 13.34 points, or 0.59 percent, to close at 2,259.53, with consumer staples sector led the nine sectors were higher and the real estate sector and the materials left behind.
The Nasdaq composite index rose 27.14 points, or 0.5 percent, to finish at 5,444.50.
Analyst Equityworld Futures Research Center estimates that the next movement will be moved positively by positive US economic data and strong expectations of US rate hike this week. But will also look at crude oil price movements.