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New Tech Cycle Drives Chipmaker Breakout

Daily Recap

Another day, another dollar

– higher. The theme for this latest spate of new highs over the last three weeks has been hope for tax reform, aided by strong economic data and thoughts of good upcoming earnings reports. And that's all good.

 

Into the mix today was a little concern about how certain the Fed is to raise interest rates by the end of the year. Three rate hikes are nearly set in stone over the next year or so, but there are questions about the exact timing, due mostly to inflation's inability to edge higher. But obviously this issue isn't enough to derail the Dow Express as it keeps chugging higher.

Foreign markets were mostly higher, as the Global Dow gained 0.20%. In Asia, the Dow rose a similar 0.23%. Despite a sigh of relief over the Catalonia issue, and Spain's IBEX 35 rising 1.34%, the STOXX 600 finished dead even at ... Log in or subscribe to continue reading.


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