What’s Next for Stocks?
Plus, an update for precious metals investors
Sector SPDRS Hit New Highs
|Sector SPDR/Index||Ticker Symbol||Record Set this Week|
|Consumer Staples||XLP||All-time high|
|Health Care||XLV||All-time high|
|Utilities||XLU||No record set this week|
|Consumer Discretionary||XLY||All-time high|
|S&P 500||^GSPC||All-time high|
|Dow Jones||^DJI||All-time high|
- Meanwhile, Gold crossed below 1300, the Euro crossed below 135, and oil crossed below 95
- We are in completely unchartered territory
- The new stock market highs are due to the historic money printing campaigns by the Federal Reserve and central banks all over the world
- Janet Yellen testified at her Senate Confirmation Hearing this week where she defended the Fed’s bond-buying stimulus program, saying that the only way to restore the U.S. economy back to a state of normalcy, is through a continuation of the Fed’s current quantitative easing program.
- There is little doubt that we can expect a lot more of the same old policies from Yellen as we have gotten from Bernanke and his predecessor, Alan Greenspan.
- Stock prices have risen sharply causing many stocks to become vastly overvalued. Value investors, like Warren Buffett for example, have been quite vocal about this.
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