Monday March 2: Stocks Continue Streak as Nasdaq Tops 5,000


Stocks continue to reach record highs as discretionary stocks bolster confidence over the economy. Nasdaq tops 5,000 for the first time since 2000, S&P increases .6% to 2,117 and DJIA jumps .9% to 18,288. Momentum is building in stocks with the highest prospects for growth, which is good for the confidence of the financial markets and for consumers. Adjusted for inflation, consumer purchases rose in January which could reflect the effects of low oil prices on consumers. The VIX fell to 13.04 after falling 36% in February for its biggest monthly drop on record. The U.S. dollar index increases .2% as markets continue to price in rate hikes later this year. The two year and ten year yields increase 4bp to .66% and 9bp to 2.09% respectively.

Demand for eurozone securities increases ahead of ECB government bond purchases as $19.3 billion has flowed into eurozone ETFs this year. More than…

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