Another up day on Wall Street to start the new trading week. Despite signals to the contrary, the market continues to baffle many experts who do not believe the bulls should be running. Wall Street is on it’s way to three straight weeks of gains as the Dow and S&P 500 hit new all-time highs. The Dow has now risen 7 straight days while The S&P capped three weeks of more than 1 percent gains.
Meantime, in a CNBC report today Eric Chemi addressed a concerning trend regarding “junk bonds.” Chemi writes in today’s column:
Demand for high-yield bonds has surged this month as the stock market continues to climb. That’s in contrast to earlier this year, when investors were looking for value in safe, defensive positions. It has been a turbulent 2016 for the market. To start the year, investors moved into less risky stocks, like utilities and materials companies. Investors also pulled their money out of high-yield bond ETFs in recent months. But with a strong July on track to push the market even higher, riskier bonds are staging a comeback.”
Why are riskier stocks becoming more common? See below.
Here are the final numbers from Monday, 18th on Wall Street:
Dow Jones Industrial Average: 18,533.05 (+16.50 / +0.09%)
NASDAQ: 5,055.78 (+26.19 / +0.52%)
S&P 500: 2,166.89 (+5.15/ +0.24%)