In a holiday-shortened week, the Dow Jones Industrial Average and the Standard & Poor’s 500 index rose every day, and both were up for the third consecutive week, hitting new records. The Dow jumped 1.5% to 19,152 and the S&P 500 rose 31 points, or 1.4%, to 2213.35. In addition, the Russell 2000 index, which tracks small-caps, has been on an absolute tear, rising 15.8% in three weeks and finished on Friday culminating a 15-day winning streak. With stocks setting new highs, I remain optimistic, but rather cautious at the same time.
My usual expanded Week in Review will continue next week. In the meantime, enjoy the rest of the holiday weekend.