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.
The risk of loss in the trading of stocks, options, futures, forex, foreign equities, and bonds can be substantial and is not suitable for all investors. Trading on margin or the use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Supporting documentation is available upon request. Trading futures, options on futures, and FX involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.