Market opens in the green again, as stocks keep pushing higher in a run that was not contained in 2017. It’s a new year, and a new record high. The strength was led by Tech, as the NAS had its best day since October. It cleared 7K yesterday for the first time ever. The S&P 500 crossed 2700 for the first time this morning. DOW 25K is the next big round number. It’s happening despite some unprecedented activity overseas, with President Trump getting into another war of words with Kim Jong Un while simultaneously increasing his criticism of Iran. This happens while North Korea reached out to South Korea to begin a dialogue ahead of the Winter Olympics next month and protests continue in Iran. For whatever reason, the Market just does not care. This is not typical tactics from the White House. As long as earnings continue to grow, stocks keep charging higher. Gold has been strong to start the new year. Oil is holding $60, which has Energy stocks continuing their new-found strength. Interest rates are lower this morning, not something you would expect for a breakout Stock Market. It looked as though rates were finally going to move and the yield curve steepen. Not yet. That’s something we are watching very closely. The VIX is near all-time lows. Buckle up.
Have a great morning,
Mike Frazier
