The U.S. stock market continued to power ahead in July and the Dow Jones Industrial Average (INDU) and S&P 500 Index (SPX) are up about 18% each for the year. It’s an opportune time to size up the equities market, so here are five charts that tell the story.
In July, concerns over when the U.S. Federal Reserve Bank might start winding back its $85 billion in monthly bond purchases continued to be debated by global investors, though that hardly had a negative impact on stocks. The S&P finished up just over 5% for the month:
There has been only one mini-correction, with the S&P 500 down 5.8% from May 21 through June 24. Fears that the current bull market (2009-?) might be tracking the previous one (2003-2007) have abated as stock prices rose to new record highs this year, surpassing the previous record peak on October 9, 2007, rather than starting a bear market, as they did after the market peaked on that day in 2007.Finally, US stocks are smoking hot compared to most international markets, save Japan. Behold!
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