Also helping boost appetite for stocks has been a relatively strong second quarter earnings season and low interest rates. "Corporate earnings are continuing to come in strong," Doug Cote, chief market strategist at Voya Investment Management, said. "At the end of the day, we are still in a bull market.
The company said its second quarter profit increased 8. 8 per cent as higher pricing helped boost sales. "Any time you get a geopolitical headline, it tends to dominate trading for 24 hours," J. J.
The Commerce Department reported Wednesday that the US trade deficit narrowed more than expected in June, likely boosting measures of second quarter economic growth. "For US investors investing in US equities, the long list of improving economic data is the more powerful theme," he said.
Germany's economy ministry said concerns about geopolitics probably held back orders. "There is a battle between traders focused on non-US economic pains and a positive US economic narrative that is increasingly compelling," Peter Kenny, chief market strategist at Clearpool Group, said.
Read more here: Business Spectator