Flows at the start of the month drive gains
The S&P 500 is up 18 points to 2098, erasing a 9 point decline in Monday.
The new month is the driver at the moment and December is, seasonally, one of the best times of the year for stocks. That might not be the case if the Fed hikes and hits a hawkish note but for now, the equity market is pulling higher even as Eurozone stocks hit a rough patch.
The high so far today was the best level since Nov 2011, as the index ticked slightly above last week's high. That's a great sign going forward and points to a test of 2116.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
