Here Comes A New Record For The S&P 500: Global Week Ahead
Zacks Investment Research | Jul 10, 2016 11:09PM ET
I think globally to start each trading week. Do you? Follow me on Twitter @johnblank100.
To kick-start a bullish leg in Global Week Ahead trading, U.S. futures suggest the S&P 500 gains 8.5 points to 2,137. If that price holds, or builds up further into the close of Monday’s trading, the S&P 500 index finishes at a new record level.
Bolstering the week’s S&P 500’s bullish trading tone from abroad -- long-term government bond yields hover at record lows, gratis the European Central Bank. The benchmark risk-free U.S. 10-yr Treasury trades under this induced stress at 1.40%. There’s reduced worry over the U.K.’s Brexit vote too. A looming 25 bps rate cut from the U.K.’s Bank of England later this week helps notably.
How did this latest bullish stock sentiment come about?
Last Friday’s U.S. nonfarm +287K jobs data for June suggested this -- the U.S economy is expanding at a ‘goldilocks’ pace. Modest, steady +2.4% annualized GDP growth shows up on GDPNow as of July 6th. This allows the U.S. Fed to safely keep its short-term rates low for longer.
Track the global bullish share buying yourself–
- Japanese stocks surged +4.0% to lead upbeat Asia-Pacific trading.
- The pan-European Stoxx 600 index traded up +1.2%.
- London’s FTSE 100 added +0.9%. Miners and recently hard-hit builders advanced.
Here are three Zacks #1 Rank (Strong Buy) global stocks to look into—
(1) Compass Group (LON:CPG) PLC Zacks Investment Research
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