Posted on 02/24/2017 2:30:50 PM PST by mandaladon
NEW YORK (Reuters) - Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials.
Major Wall Street indexes have rallied to record levels since the election of Donald Trump as U.S. president, boosted by pledges of tax reforms, reduced regulations and increased infrastructure spending.
Equities were in negative territory for a majority of the trading session, however, as investors grew hesitant after recent comments from the Trump administration indicated its pro-growth policies may have a longer route to implementation.
As details remain scarce on Trump's plans, including one announced on Thursday to bring millions of jobs back to the United States, markets have kept to tight daily trading ranges. The benchmark S&P 500 index has not registered a move of at least 1 percent in either direction since Dec. 7.
Analysts have become more leery of stocks as they have run up without concrete details and are becoming more expensive. The forward price-to-earnings ratio of the S&P 500 is 17.8.
"Certainly the sentiment is improving much faster than the actual activity so we’ve seen valuations probably get a little bit ahead of themselves," said Brant Houston, managing director at Atlantic Trust Private Wealth Management in Denver.
"Ultimately we need to see those fundamental changes come through to validate that improved sentiment."
(Excerpt) Read more at finance.yahoo.com ...
WOW! It recovered from earlier.
We live in a new age folks. Leftist crap has finally found an object it can’t stick to. What’s more, everyone that is anyone (and I include decent citizens at the top of that stack), knows it.
So..., much..., WINNING!
Is this a BULL MARKET?
Yahoo is crying in it's soup right now..., the market was supposed to tank under Trump. Why oh whyyyyyy?
Analysts have become more leery of stocks as they have run up without concrete details and are becoming more expensive.
Talk it down fellas! Can't have this on Trump's watch.
Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa...
Isn’t it only a couple of more days to reach the all time record?
A stupid lib I know close to retirement age was lamenting about a Trump win.
He said it would ruin his 401K. Well, my advice to him was to get out and put it all in bonds because Trump is going to win.
I hope he is enjoying the crap sandwich CNN and MSNBC fed to him. I myself BTW went 96% stock.
As a small business person, I know my prospects have improved consideably with Trump’s election. Combination of healthcare, deregulation, taxes, better energy future, etc. While the market could bubble, it is not acting irrationally.
Sell when higher: Buy when lower. Where is it now?! Oh that’s right; it is higher. Therefore, sell for a nice profit and get back in about 2 days later. No jerk off emotions about it. Just intelligent behavior.
Wow, putting your money where your heart is...
Trusting in Trump to produce. Good for you.
I don’t want to comment on the pros or cons of that. I’m sure you know them.
Best of luck to you. I hope you make a killing!
It can’t go up forever. It can go up for a while, even now.
Imagine the folks who bought in on faith mid 2009.
I’ll ride it for 90 days and go back to a normal portfolio.
Money is Money.
Then they would have done extremely well today, if they held on. I did very well under Obama, the market was very low at the time. At the same time the national debt and such went up as well. I have my doubts as to how long we can subsidize the market with debt.
Two Trill on new paper takes time to slow down. Start-ups are everywhere. This money is moving fast. Home Financing at record highs. This is secure loans.
I assume those were previous to October 1987?
The market hit an all time high in 1929 as well.
Okay great. Thanks for the mention.
We have a market flush with cash. The majors have more money than they know what to do with. Interest rates are going to rise. Trump is going to cut corporate tax to 15%.
I expect this wave to grow and the banks to solidify.
I agree.
I’m hoping he gets the national debt under control rapidly.
If we can get back to break even it would be a great accomplishment.
I think he can do better than that too.
He’s going after Welfare. LOL
Half a trillion yearly right there at 100% of it.
I’m not sure what your message was there.
Secure? Over-exposed?
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