The S&P 500 ETF (NYSEARCA: SPY) matched the second highest close in its history. The “SPY” is less a percent away from it’s highest close. That next highest close looks like the next stop.
After the market passes its all-time high it probably has running room for a while.
The market has eaten up trade war news. According to some reports, the next package of harsh trade news may not come until late Fall. That’s when the current set of $200B in tariffs may not be able to take effect until.
So we have high growth, GDP at 4+%, low inflation, the latest PCE price was 1% and a market inches from new highs.
Low rates, low inflation, and high growth approaching new highs is a reason for the market to break those highs and keep going.
