Another record close for the major US indices
Nasdaq leads the charge
All 3 major US indices are closing at record levels for the 2nd day in a row.
- The S&P is up 9.01 points or 0.37% on the day. For the week, the broad index is up 0.99%
- The Nasdaq is up 58.97 points today as tech was on fire. That is a gain of 0.94% for the day. For the week, the index is up 1.62%,
- The Dow added 62.11 points or 0.29%. For the narrow 30 stock industrial index, the gain for the week was 0.59%..
For the year, each of the indices are not doing to shabby either.
- The less volatile Dow is up 7.31%
- The broader S&P is up 8.94%
- The tech heavy Nasdaq is up a whooping 17.14%.
When you get these types of days, and see these kind of returns, I get the feeling there are a lot of money managers who are under performing and having to catch up. It is a dangerous game.