Stock Market Nearing Record HighPosted 10/28/2019 11:23AM CT |
Led by S&P 500 Futures, the stock market rose higher Monday morning continuing the current rally to a near record level. Not to be outshined by the S&P, Dow Jones and Nasdaq futures also partook in the rally and rose Monday morning too. This current stock market rally is truly something to behold. Last week, Dow Jones futures rose .7%, while the Nasdaq and S&P 500 saw 1.9% and 1.2% respective gains. In fact, the S&P 500 was within a point of its July all-time high. Upon open this morning, The Dow and Nasdaq are only 1% below record levels and who’s to say they won’t hit them? Not me.
While the current outlook for stock futures is certainly good, we still have a 300-pound gorilla in the room, that being the potential trade deal with China. Should this partial trade deal collapse, it could send the stock market spiraling. However, should it stay go through, the market would almost certainly benefit. It is too early to tell at this point so tread lightly.