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“They always say time changes things, but you actually have to change them yourself.“ – Andy Warhol
US equities are still indicated to open higher today, but futures are off their overnight highs. Following a strong session in Asia, European markets opened higher but have been trending lower since the open. The only economic reports on the calendar today are the Richmond Fed and New Home Sales which will both be released at 10 AM.
Read today’s Morning Lineup for a recap of all the major market news and events from around the world, including the latest US and international COVID trends.
The S&P 500 came close but finished just shy of closing at a record high yesterday. The Nasdaq, meanwhile, managed to close at its 28th record high of the year. At the current pace so far this year, the Nasdaq would finish the year with 43 record closing highs. So, where would that rank relative to history? Dating back to 1971, there have actually been nine other years where the Nasdaq finished the year with 43 or more record closing highs. The most recent was last year when there were 55 and before that, you only have to go back to 2017 when there were a record 72. That’s one every three to four days!
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