Extraordinary Strength.
The market’s positive momentum from the end of the previous week followed through into Monday after a generally quiet weekend on the newswires and with the stock market open but bond markets closed for Columbus Day, trading volume was weak. Prices across the board were bolstered by Fed-speak from a number of committee members and senior officials that was generally pro-steady interest rate cuts. We hit a landmark at the close, there have now been as many new all-time record closing highs this year for the S&P 500 as there have been presidencies in the history of the United States (46).
On…
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