US stocks are extending a winning streak! S&P 500 and Dow Jones are the best performers among Wall Street indices as they both have hit all-time highs. On December 18, the S&P 500 gained 14.35 points, or 0.5%, to close at 2,690.16. The Dow Jones Industrial Average rose 118.77 points, or 0.6%, to end at 24,792.20. Besides, the Nasdaq Composite Index climbed 58.11, or 0.8%, to 6,994.76. However, Philly Semiconductor shed 1% to 1,233.18 points. No wonder all the three US benchmark indices have revealed amazing dynamics over the whole year. The US economy has been expanding at a steady pace and US corporations have been yielding solid profits. Above all, investors cheer the business-friendly tax legislation which is to pass in late December.
The US Fed officials also encouraged the optimistic market sentiment. In a widely expected move, they increased the funds rate at the latest policy meeting. This decision proves that the regulator gives due credit to the economic health in the country and does not expect recession in the medium term. Nevertheless, geopolitical risks are viewed as the only headwind. Judging by upbeat statistics, they are of little concern to market participants.
