Top-Ranked ETF Winners In Dow's Longest Rally In 24 Years
Zacks Investment Research | Feb 24, 2019 10:15PM ET
The progress in U.S.-China trade deal has bolstered optimism in Wall Street since the start of the year. Hopes of a deal between the two largest economies have pushed the Dow Jones to above 26,000 for the first time since Nov 9. In fact, the index has moved up for the ninth consecutive week, marking the longest rally since May 1995.
Meanwhile, the tech-heavy Nasdaq also notched its ninth consecutive week of gains, marking its longest winning streak since May 2009. The Dow Jones has climbed more than 11% so far this year and the Nasdaq is up 9%.
In the latest sign of progress in bilateral trade talks, Donald Trump postponed the date for boosting tariffs on Chinese imports. The Federal Reserve also played an important role in driving market sentiments. The central bank said that it will be patient in raising rates, citing mounting risks to the U.S. economy, including slowdown in Chinese and European economies and waning stimulus from the 2018 tax cuts (read: Zacks Investment Research
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