Bet On Momentum With These ETFs & Stocks
Zacks Investment Research | Aug 02, 2017 10:45PM ET
The stock market has been on a stellar run this year thanks to strong corporate earnings, still lower interest rates, and improving health of economies around the world. Even the ongoing turmoil in Washington, geopolitical tensions, North Korean nuclear missile tests and stretched valuations failed to block the road.
In fact, Dow Jones crossed the another milestone of 22,000 for the first time in yesterday’s trading session after hitting the 20,000 and 21,000 marks earlier this year and the S&P 500 is less than 1% shy of its major threshold of 2,500. The bullish trend is likely to continue at least in the near term.
This is especially true, as the economy has been on a solid growth path buoyed by an impressive labor market, increase in wages, and increasing consumer spending. U.S. GDP growth expanded 2.6% annually in the second quarter, which is double the first-quarter growth of 1.2% and represents the fastest growth since the third quarter of last year when the economy grew 2.8%. Notably, this 96-month growth confirms the eight-year expansion since mid-2009 – the third-longest economic winning streak in American history behind March 1991 to March 2001 (120 months) and February 1961 to December 1969 (106 months).
Additionally, consumers now appear to be more optimistic as we enter into the second half of the year. The Consumer Confidence Index, as indicated by the Conference Board, surged to a 16-year high of 121.1 in July from the revised 117.3 in June and is much above the expected 116.5. Further, a weaker dollar helped blue chip companies, most of whose revenues came from international markets, to surge higher (read: Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.