Market View – Stocks & Crude Push Higher & Higher

E L Emerson

The Dow Jones, S&P 500 and Nasdaq all had positive trading days yesterday (Wednesday, 3rd January) rising 0.39, 0.64, and 0.84% respectively, as all sit at or near record highs.

Oil prices also hit two-and-a-half year highs ($68.13), as US oil production has risen 16% since mid-2016. Expect per barrel prices of crude to remain in a $40 to $80 per barrel trading range for the foreseeable future.

The FTSE 100, Euro Stox and Nikkei 225 indexes moved up through positive territory with 0.30, 0.48 and 2.55% gains, as Asian shares flirted with 10-year highs. 

However, investor altitude sickness continues apace as multi-trillions continue to sit “on the sidelines” in deposit accounts across the US, UK and Europe, earning little and treading water against inflation in this historically low interest rate environment.

The scars of 2008/09 remain fresh as expectations of the next big crash, one they’ve been waiting on for approximately nine years now, have not diminished despite revived economic indicators across business investment, jobs growth, corporate earnings and low unemployment.

E L Emerson, Editor, HNW

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