Dow Jones strengthened 0.61 percent to 25.075 points, while S & P 500 grew 0.40 percent to 2,723 points and Nasdaq index 0.18 percent to 7,077 points. The new record ranges of all these indices, for the third day in a row, are due to data on the strong growth of manufacturing and service sectors in the world’s largest economies, from the US and China to the eurozone and Japan.
In addition to accelerating the growth of economies, the positive market is influenced by the investor’s conviction that the recently accepted tax reform in the US will additionally support stock price growth, as tax cuts in companies could lead to increased dividends but also the amount they buy their own shares in the market.
Soon the season of US company report on business results in the previous quarter begins, which could also support the market.
– As long as you have the growth of a company’s economy and earnings, the market is well-supported. Investors expect these conditions to remain solid for at least a few months. But at some point in this year, instability will return to the market and fall, says Quincy Krosby, an analyst at Prudential Financial.