Cyclical stocks, those typically tied to economic growth, have led the record-setting rally in the past three months.
Credit Suisse Chief U.S. equity strategist Jonathan Golub says the broad market index should rally nearly 10% from current levels by the end of 2020.
Federal Reserve Chairman Jerome Powell called the U.S. economy a “star” performer and voiced solid confidence that its record expansion will stay on track.
Negative interest rates are unnaturally propping up the stock market and at some point the whole edifice will collapse. It’s an oft-repeated theory, but history suggests it might be wrong.
Chinese e-commerce giant Alibaba on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from the same point last year.
U.S. consumer sentiment improved for a third-straight month in November as Americans grew more upbeat about their financial situation and the economic outlook, fresh signs they’ll continue to fuel growth.
Private payrolls grew at a faster-than-expected pace in October, but the solid growth was offset by a sharp downward revision for the previous month, according to a survey released Wednesday.