Strong Economy, Earnings Bets Propel S&P 500 To Record High

[Purveyor]

Source: Reuters

The S&P 500 on Monday broke the record high it held for more than a year as upbeat economic data and low bond yields continued to funnel investors into U.S. equities.

Led by sectors seen thriving in an expanding economy, the benchmark .SPX closed at a record 2,137.16 points, overtaking the previous high of 2,130.82 hit on May 21, 2015.

However, the best performing S&P 500 sectors since the previous record have been defensive: utilities .SPLRCU, telecoms .SPLRCL and consumer staples .SPLRCS, all with double-digit percentage gains.

This outperformance in high-yielding areas of the market underscores investor concerns over the economy's resilience in the face of global stagnation. Britain's decision last month to leave the European Union adds to the uncertainty.

Read more: http://www.reuters.com/article/us-usa-stocks-idUSKCN0ZR18G

[bucolic_frolic]

1. "Strong Economy" with "Global Stagnation"

They're beginning to sound like Trump

on both sides of everything

[elleng]

8. Yes. I don't see 'strong economy' at all.

[Moostache]

2. Wait, I thought President Obama had ruined the economy?

I am so confused...

I remember the smart ass GOP billboards with Shrub on them saying "Miss me yet?" I never have missed that man since he left office and never will...but I know damn well I am going to miss the Presidency of Barack Obama a great deal!

[unblock]

5. in some ways i miss shrub. he was comedy gold.

plus, du is at its best when we have a good villain to unite against....

[wolfie001]

6. Alito and Roberts don't make me giggle or even snicker....nt

[Midnight Writer]

14. He ain't done yet. Don't you listen to hate radio? The latest theory is...

That Obama wants Hillary to lose. You see, he knows that his policies are about to wreck the American economy, so he wants a Republican in the White House when the collapse comes so it will be on THEIR WATCH and he can skulk away without any responsibility. In the meantime, he is putting out false info about the economy to make it look good right up until he leaves office.

Then when the imbecile Trump takes office, this whole house of cards collapses and Obama can blame the incompetency of the Republicans.

In other words, they (hate radio) are setting up the next season of their shows.

[rurallib]

3. President Romney turned things around just like he said he would

by losing!!!!!

[rurallib]

4. At this point in the Bush II presidency

the stock market resembled a toilet bowl in mid flush

[Skittles]

7. pretty good for a socialist president

[former9thward]

9. Where are all the Brexit gloom and doom people?

I was told "trillions of dollars had been lost" due to the vote. I guess those trillions got found by someone.

[Statistical]

11. Flight to safety?

Trillions lost in the UK as investors dump pounds for dollars and UK stocks for (comparably) less risky US ones.

[former9thward]

12. The UK market is coming back.

Not all the way yet but is getting there. There was a jittery over reaction but now people see the bigger picture. The EU runs a trade surplus with the UK and it does not not to lose that business.

[Statistical]

13. Well the market has because a cheap pound potentially could mean more competitive British export.

The pound however has sunk to a 20 year low and shows no signs of budging.

I got a friend working as an expat in London (not exactly the cheapest city in the world). In the span of a week he took a 15% cut in the dollar value of his pay (same amount of pounds buy less dollars and his student loan and savings are in dollars).

[TalkingDog]

10. Dumpster diving also at an all time record high.

It's practically chic now.