S&P 500 Closes Near Record High Amid Growing Ebullience

This past week's cover of Barron's, a financial magazine, said the 10-year old market could go on for years, and Friday's headlines were similarly ebullient.

The S&P 500's 50-day moving average crossed above its 200-day moving average, forming a "golden cross," which market technicians believe is a bullish indicator. Golden crosses have given pretty good market signals and occur infrequently.

The 60 economists surveyed monthly by The Wall Street Journal in early April expected an average 2% rate of quarterly GDP growth over the five quarters ahead. They expected 1.5% growth in the first quarter, boosting their expectations from a month ago from 1.3%.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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