Market's new-high streak still far from record
Room to run? The S&P 500 has posted 33 new record-high closing numbers in 2013. But that's not even halfway to the best year ever.
Records are coming fast and furious for the major U.S. market benchmarks. They provide just one more data point prompting some prognosticators, including Larry Fink of BlackRock and MarketWatch’s Mark Hulbert, to say this Fed-fueled momentum rally can’t last.
But by one measure, the rise to higher highs has a long way to go.
As record-tallier Howard Silverblatt of S&P Dow Jones Indices points out, the number of annual records set by the S&P 500 ($INX) is far from rate set in the mid-to-late 1990s.
In fact, with 33 as of the close on Tuesday, Oct. 29, close, they’re not even halfway to the 77 record-closes-per-year set in 1995, which was a peak, says Silverblatt.
Want more stats? Record closing highs for the S&P 500 total 1,019 since 1928. But they didn’t get going until second half of the last century. From 1930 through 1953 there were none, notes Silverblatt.
More at MarketWatch.com:
I'm still reeling from the article the world may face a wine shortage, and can't even comment on this.
I'll ride both situations out, though.
What's in your wine cellar?
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[BRIEFING.COM] The stock market welcomed the new trading week with a mixed session that saw relative strength among large-cap stocks, while high-beta names underperformed. The Dow Jones Industrial Average (+0.3%) and S&P 500 (-0.1%) finished near their flat lines, while the Nasdaq Composite and Russell 2000 both lost 1.1%.
Equities began the day on a cautious note amid continued concerns regarding the strength of the global economy. Over the weekend, China reported its first decline ... More
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