Thursday was another remarkable session that saw the market gain strength into the close, as investors digested a tidal wave of good to great corporate news and economic data. The biggest winner in the S&P 500 was Morgan Stanley (MS), powered by strong earnings and even better guidance.
- 677 new highs
- 20 new lows
Yesterday, the Bloomberg Consumer Comfort Index climbed for the eighth time in the last nine weeks, finishing at its highest level since October 2011. The comfort gauge among married adults has hit a record high, and the Midwest attained its best level since September 2000. The buying climate rallied to a reading of 58, the second-best on record.
Big Economic Calendar
Today, we’ll have a lot to chew on with a wide slate of data that should confirm certain trends and information on investment strategy. I would like to see less partisanship in sentiment numbers because that could help take the measure to an all-time high.
The Last Shall Be First?
The Russell 2000 has been the best performing sector over the past five days, and the index is making a major breakout. I’ve looked at the index for the past year, maybe it’s time.
Year to Date