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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