The greatest economic recovery in US and world history continues. The S&P 500 hit a new all-time high today after great news on housing and manufacturing data.
The stock markets have increased faster since March than any time in history. The previous record was between President Trump’s election win and February of this year.
Stocks finished higher on Friday, with the S&P 500 hitting another new record high after manufacturing and housing data both came in stronger than expected….
…“It might be hard to recall after a long week, but the S&P closed at a record high on Tuesday in one of the fastest rebounds – after one of the fiercest bear markets – in history,” says Lindsey Bell, chief investment strategist for Ally Invest. “Record highs usually bring momentum with them,” she adds.
The S&P 500, which sailed into record territory on Tuesday, rose 0.35% while the Nasdaq Composite gained 0.42%, both registering a fourth straight week of gains..
…On Friday, there were several economic catalysts, including existing home sales spiking by a record 24.7% month-over-month in July while both manufacturing and services numbers also topped forecasts.
Americans who kept their money in the markets since March are very happy today with their 401k results and their decision to trust in President Trump.