SP0ct28-300x156 Market Snapshot - Monday 10.28.19

The S&P 500 index entered into new territory as it hit an all-time high, the futures topping out today at 3044.08.


The Nasdaq also hit a record high today, its futures rising to a high of 8335.27 before slightly  pulling back.


Right now, investors may be wondering as to what might lead another leg in the bull market. Currently, low interest rates, expectations of a Federal Reserve rate cut, strong Q3 earnings, and optimism towards a US-China trade deal may be the primary factors supporting the bull run.


Apple, United Health, and JPMorgan earnings have been strong contributors to the broader market’s advance. FANG stocks–Facebook, Amazon, Netflix, and Google–have been generally underperforming, but Wall Street analysts are bullish on FANG’s recovery.


The Dow advanced 132.66 points, +0.49 to close at 27,090.72. The S&P 500 closed up 16.87 points, or +0.56, to close at 3039.42. The Nasdaq Composite closed at 8,325.99, up +1.01%.


Measure of economic activity as shown by the Chicago Fed’s National Activity Index came in at -0.45, taking the index into negative territory in September after a positive August.


International trade numbers showed that the trade deficit had narrowed to $40.4 billion, but both imports and exports fell sharply, indicating economic slowing.


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