NEW YORK (TheStreet) -- Federal Reserve Chair Janet Yellen speaks and the S&P 500 hits an all-time high. It is mission accomplished.
The S&P 500 closed up 14.99 points at 1956.98 on Wednesday, a new all-time closing high, while the DJIA closed up 98.13 at 16906.62. The Nasdaq finished higher by 25.60 at 4362.83 and the Russell 2000 was up 6.51 to close at 1183.13.
This is all courtesy of the Federal Reserve and its continued dovish stance on the economy. This is allowing the stock market to continue moving higher as the bubble continues to grow with 0% interest rates and the all clear signal to buy equities.
Do not be concerned that inflation is all around. The Bureau of Labor Statistics (BLS) seasonally adjusted price index for meats, poultry, fish and eggs hit an all-time high in May.
The leading sector to the upside in 2014 continues to be the Select Sector Utilities ETF (XLU). It was up 2.27% on Wednesday and up 15.2% for the year to date. The S&P Goldman Sachs Crude Oil Trust Index ETN (OIL) continues to rip higher, up 11% YTD, and the SPDR Gold Trust (GLD) is up 6% YTD.
The Barclays 7-10 Year Treasury Bond Fund (IEF) is up 4% YTD. So if traders and investors want to forget or not notice what this stock market and economy is signaling, trade and invest at your own peril. There are serious issues out there that are being masked over by what the Federal Reserve is doing and their policies. Please take notice.