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Barchart
Barchart
Rich Asplund

Stocks See Support As Year-End Bullish Sentiment Continues

The S&P 500 Index ($SPX) (SPY) today is up +0.32%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.60%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.27%.  March E-mini S&P futures (ESH26) are up +0.02%, and March E-mini Nasdaq futures (NQH26) are up +0.08%.

Stocks are seeing support from year-end optimism and today’s -1.8 bp decline in the 10-year T-note yield.  Stocks also have support from confidence about the US economic outlook after Tuesday’s news that US Q3 real GDP rose by +4.3% (q/q annualized), much stronger than market expectations of +3.3%. 

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