Newspaper article St Louis Post-Dispatch (MO)

Investors Happy to Let Bear Stay Caged

Newspaper article St Louis Post-Dispatch (MO)

Investors Happy to Let Bear Stay Caged

Article excerpt

The 2-month rally that sent stocks to records shows no signs of stopping.

Fueled by optimism on earnings, low bond yields, barely perceptible inflation, and confidence that the Fed won't raise interest rates, the Dow Jones industrial average set records and gained 15 points the past week. The 30-stock benchmark is ahead in nine of the past 10 weeks.

Similarly, the Standard & Poor's 500 index set records in four of the last five trading sessions, and the Nasdaq composite set records in three of the five sessions. The Russell 2000 small-stock index also set records, while markets in Germany, Spain, Switzerland, Italy, Holland and Hong Kong reached all-time highs during the week. Seth Lynn, chief investment officer of $4-billion Axe-Houghton Associa tes, scans the stock market's horizon and sees nothing to derail prices until after Labor Day. "I don't see any reason why you couldn't blow past 8000 (in the Dow industrial average), and keep going beyond that," Lynn said. …

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