Wall Street up for a five-day record streak.
|Wall Street ended higher yet again and for a five-day record streak.
Stocks on fire and have not performed this well for a quarter of a century. Investors are bullish on the back of Trump's proposed reforms and the recent pledges around tax reforms. The combination of this and Yellen's optimism has pushed the top three benchmarks on Wall Street to finish at all-time highs on successive days.
The Dow Jones Industrial Average finished higher by 107.45 points, or 0.5%, and closed at a record 20,611.86. The S&P 500 index closed up by 11.67 points, or 0.5%, at a record 2,349.25 and the Nasdaq Composite Index tallied up a further 36.87 points, or 0.6%, to end at a record 5,819.44.
US 10yr treasury yields also rose again and from 2.47% to 2.52% in response to stronger than expected CPI and retail sales data while the Fed fund futures also firmed 2bp-4bp with the April contract now trading at 0.73% (which is 10.5bp above the current midpoint FFR of 0.625%, which implies around a 40% chance of a rate hike in March), as noted by analysts at Westpac, adding, "The US dollar index is currently unchanged on the day, but earlier jumped to a one-month high following the US data surprises."
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