Investors are trooping in large numbers at U.S equity markets as buying pressure escalates at the world’s biggest and most liquid equity market.
What you should know
Major U.S stock benchmarks were all fired up at the last trading session of the week, recording another week of gains for U.S stocks, as global investors looked past a softer-than-expected U.S jobs report.
- The Dow Jones Industrial Average, S&P 500, Nasdaq Composite, and Russell 2000 RUT, +2.37% each ended at an all-time high – the first simultaneous record finishes for the quartet since Jan. 22, 2018.
- The Dow DJIA gained 0.8% to close near 30,218 points, while the S&P 500 SPX +0.88% advanced 0.9%, to finish near 3,699 points, and the Nasdaq Composite COMP surged by 0.7% to 12,464 points.
What they are saying
Stephen Innes, Chief Global Market Strategist at Axi, in a note to Nairametrics, spoke on the prevailing fundamentals global investors would be gazing at amid the COVID-19 era:
“Investors continue to knock their Yule logs that a pre-holiday Christmas stimulus bill will provide the ultimate holiday stocking stuffer this year, and continue to look on the sunny side of the eventual vaccine rollout.
“But before we can make new gains, there is the usual sentiment tug of war between medium-term optimism and near-term COVID-19 despair.
“I do not know how many times we have been down this road before. Still, all roads lead to prosperity eventually as the post-pandemic market rally has moved seamlessly from policy-driven to mobility-driven to vaccine-driven and should continue so even if some investors are sitting on the fence waiting for a new stimulus deal.”
What to expect
In the near term, leading stock experts are predicting an even stronger 2021 bullish outlook possibly for the U.S Stock markets, coupled with a quick inoculation-driven economic recovery.