The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

New York (AFP) – The S&P 500 Tuesday closed at a new record as US stocks rallied following solid economic data and investor relief over U.S. Federal Reserve policy.

The S&P 500 jumped 13.18 (0.70 percent) to 1,885.52, its first record close since March 7.

The Dow Jones Industrial Average advanced 74.95 (0.46 percent) to 16,532.61, while the tech-rich Nasdaq Composite Index increased 69.05 (1.64 percent) to 4,268.04.

“We’ve had a little bit of a sigh of relief,” said Art Hogan, chief market strategist at Wunderlich Securities.

Hogan attributed the markets’ improved sentiment to “better” economic data, including a report Tuesday from the Institute for Supply Management that showed U.S. manufacturing activity rose in March.

Investors are also heartened by comments from Fed Chair Janet Yellen Monday that suggest no “abrupt” change to U.S. monetary policy that has been supporting the economy, Hogan said.

Yellen’s comments emphasized the need to improve the U.S. employment picture and reassured that the Fed would not quickly end its accommodative measures.

Finally, while geopolitical tensions over Ukraine remain high, they have not worsened, Hogan added.

AFP Photo/Stan Honda

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Randy Rainbow Trolls Trump With New Parody

Image via YouTube

Randy Rainbow is back with a fresh song parody, "Lock Him Up Yesterday."

Set to the tune of “Yesterday” by Paul McCartney and John Lennon, it pokes fun at Donald Trump for claiming the actual word “yesterday” is a “hard” word for him to pronounce clearly.

Keep reading... Show less

Former Vice President Mike Pence, left, and former President Donald Trump

Youtube Screenshot

Former Vice President Mike Pence, asked if he would testify before the House Select Committee on the January 6 Attack, said if invited he would “consider” participating.

“If there’s an invitation to participate, I would consider it,” Pence said Wednesday morning at a political event in New Hampshire, a state presidential hopefuls visit early and often. “It would be unprecedented in history for a vice president to be summoned to testify on Capitol Hill, but as I’ve said, I don’t want to prejudge.”

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}