‘Great news’: U.S. market has hit a new high
Markets in the United States have hit a record high as a new round of federal stimulus rules kicked in.
But the news isn’t all good, according to Mark Perry, a senior market strategist at RBC Capital Markets in New York.
He says the government’s actions have slowed economic growth in some key markets.
But that doesn’t mean markets have hit another peak.
“The market has been doing well for a few months now, and the Fed is trying to keep things from becoming too hot, and that’s what you’d expect from a stimulus package,” Perry said.
“But what we’re seeing is that the economy has slowed a little bit, so that’s good, but not as great as the markets might have liked.”
The Dow Jones Industrial Average is up 2.7% so far this year, while the S&P 500 index is up 5.1%.
The Dow has gained 9,895 points so far in the year and has gained more than 7% this year.
The S&s has gained 6,813 points.
The Nasdaq has gained 3,092 points.
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