Hello traders everywhere. Stocks traded at record intra-day highs Friday morning as strong global economic data, strong housing data, and a solid start to the earnings season led to another week of gains. This week's move for the S&P 500 and DOW are close to posting the best weekly gain in 5 months.
All three of the major indexes hit intraday highs in Friday morning trading with the S&P 500 hitting 3,326.44 up +1.7% for the week. The DOW continues to trade above 29,000, hitting a high of 29,373.62, posting a +1.7% gain. The NASDAQ will post a weekly gain of +1.9% and hit a record high of 9,393.48.
Chinese industrial data for December came in better than expected, with production rising +6.9% on a year-over-year basis. The overall Chinese economy grew by +6.1% in 2019, matching expectations. To be sure, that is also the slowest growth rate for the Chinese economy since 1990. Continue reading "Strong Economic Data And Housing Boost Market"