It's a sleepy day in the markets as everyone prepares for the Thanksgiving holiday. Equity markets are barely fluctuating and remain mostly unchanged. If things remain calm through the end of the day, we'll be able to feast tomorrow with the satisfaction that markets are at or near all-time highs. Let's take a quick look at the major averages and then we'll touch on the litany of economic data points released this week.
Below is a chart of the Industrials. The recent run has been fueled heavily by central bank stimulus, but solid US economic conditions and a favorable end of the year outlook are also playing a role. I'll touch more on these in a moment. It would not surprise me to see the Industrials cross the 18,000 mark before the end of the year.
The Transports have been the pack leader in terms of relative strength. Their remarkable run (over 19% ... Log in or subscribe to continue reading.