S&P 500 futures are indicated higher again this morning (what else is new?) with the S&P 500 poised for another record high. If today’s gains hold it would be the sixth record close in the last seven trading days. Looking further out, since the S&P 500 first broke out in late October, we’ve seen record closes at a pace of once every other day!
There’s a heavy dose of economic data on the calendar today as reports get jammed in ahead of the holidays. The first batch that was just released generally came in right in line with expectations. The only outlier was Personal Consumption which rose more than expected (3.2% vs 2.9%), but overall the data shouldn’t ruffle any feathers in the futures market.
It’s not just US stocks rallying either. As shown in our snapshot of regional international ETFs from our Trend Analyzer tool, every single one of them is up over the last five trading days and trading at overbought levels.
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week free trial to Bespoke Premium. CLICK HERE to learn more and start your free trial.