Wall Street at record highs as year-end rally continues

Wall Street at record highs as year-end rally continues
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(Reuters) – U.S. stock indexes rose slightly on Friday, continuing a year-end record rally that has been fueled by optimism over a U.S.-China trade truce and an improving global economy.

The benchmark S&P 500 index .SPX is about half a percentage point shy of logging its best year since 1997. The Nasdaq .IXIC crossed the 9,000 point mark for the first time on Thursday.

While Wall Street’s main indexes pulled back briefly from their record opening levels, they were back at all-time highs.

“We’ve had such a long run so far that it now feels a bit overstretched,” said Katrina Lamb, head of investment strategy and research at MV Financial, in Bethesda, Maryland.

“These moves are expected in the absence of anything earth-shaking happening.”

 

Source: Reuters

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