The Dow, S&P 500 and Nasdaq all finished the week on a positive note. This marks the third week in a row these three major indexes have finished up. The Russell 2000 closed down for the week for the first time since early October.
This move for the major indexes has been strong following last Tuesday’s election, highlighted by major indexes hitting new all-time highs this week. Even the Russell 2000, which we noted as being down for the week, is close to hitting its July peak.
From a fundamental perspective, economic reports have been slanted towards the positive and continuing to support the bullish case. The manufacturing survey, services index and employment figures show that the economy rests on a firm foundation.