Markets around the world continue to comeback after a correction that caused investors to fear that the multi-year rally was finally over. Things have turned around in a hurry though and just a short time later it seems like the correction never happened. We are just one day before the conclusion of the FOMC meeting and US stocks tracked higher all day. DJIA finishing 187, S&P up 23, Nasdaq up 78 and Russell 2000 up the most with nearly a 3% move higher.
Consumer confidence was the big driver as the Conference Board’s index climbed to 94.5, the highest level since October 2007. Americans more excited about the prospects for jobs and the fact that gas is much cheaper and they have more money to spend. The S&P is now only 1.7% away from the previous peak of 2019 on Sept 19.
