The stock market registered consecutive wins this week. Minutes from the Fed meeting in early May became the catalyst for the move to new record highs.
In the report, the Fed revealed an approach for the interest rate hikes. To reduce $4.5 trillion balance sheet, it will tighten the monetary policy by introducing a slow rate increments. Fed's willingness to discuss the issue also showed that it is confident in the future economic outlook.
The price run happened after New York Times shared that an obstruction of justice move by President Trump. The stock market reacted with the worst a one-day selloff since September 2016.
With 90% of S&P 500 companies has reported earnings for the first quarter, economic data will be in investors' minds next week.
Let us have a look at the daily charts for the 4 market indices.
For weekly charts, this is how market indices fared.
Let us have a look at the monthly charts for the 4 market indices.
Let us look at the investor's sentiments for the week.
In this index, brought to you by CNN money shows that greed is the current emotion thats driving the market. Previously, it was hovering around the neutral range. Perhaps, there was uncertainty and indecisiveness in the air due to geopolitical reasons. However, raving reports and news convince people that good times are about to come soon.