The S&P 500 Index hit its all time high today, closing at 1569.19, just a few points above its October 2007 high of 1565.15. The Dow Jones Industrial Average also saw its highest performing quarter since 1998. The Dow’s and S&P 500′s stardom come on the heels of yet another round of the European debt crisis centered on Cyprus alongside continued easing from the Fed and Dr. Bernanke. Considering that today’s economic reports were less than satisfactory, today might be just one of those “don’t fight the Fed” kind of days.
Index ETFs naturally followed along today, with the SPDR S&P 500 ETF (SPY) rising .31%, the SPDR Dow Jones Industrial Average ETF (DIA) adding .25%, the NASDAQ ETF (QQQ) inching up .25%, and the iShares Russell 2000 Index ETF (IWM) rising .12%.
So, today was a good day to not fight the Fed, as it appears clear that Dr. Bernanke and the Fed continue to push markets up despite significant headwinds from abroad and at home. Global financial markets continue to defy gravity even though certain countries in Europe are on the brink of collapse. Also, the economic numbers don’t quite match the market records, as we saw a 16,000 increase in initial jobless claims this past week, and the country’s 1st quarter GDP for 2013 indicated a .4% increase. Chicago PMI also posted a big miss on expectations.
Bottom Line: “Don’t fight the Fed,” and keep an eye on developments in Europe.
Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer, Terms of Use, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
A New S&P 500 Record!
Published 03/28/2013, 06:22 PM
Updated 05/14/2017, 06:45 AM
A New S&P 500 Record!
Today we saw the S&P 500 establish a new record high despite continued European tremors and economic fear
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.