S&P 500 Hits Record High (Bloomberg)
In the wake of yesterday’s Congressional budget deal, investors speculated that the Federal Reserve will hold off on stimulus tapering for the time being, and they confidently entered the market, sending the S&P 500 to a new record high. The previous high was reached on Sept. 18. “The taper seems a little bit further out, certainly than anybody expected eight weeks ago and maybe even just a couple of weeks ago,” Walter Todd, chief investment officer at Greenwood Capital Inc., said. “It keeps a lid on rates and provides more liquidity for risk assets like stocks. People are back to focusing on the individual company dynamics that occur during earnings season.”
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