The Institute for Supply Management queries purchasing managers about the general direction of production, new orders, order backlogs, their own inventories, customer inventories, employment, supplier deliveries, exports, imports, and prices...we're at multi year highs.
Yes, it's been a great start to the year, but Morgan Stanley's Michael Wilson warns investors not to expect a repeat of 2017:
A year ago, our out-of-consensus bullish outlook was based on accelerating earnings growth, very supportive Financial Conditions and generally muted institutional and individual-investor sentiment and positioning.
We also believe that financial conditions will tighten this year, and we can no longer say that investor sentiment and positioning is muted.
In fact, there are now signs we have entered into the “euphoria” stage of this Bull Market —something we also forecasted in last year’s outlook.
- US: Stocks end at fresh records on strong data, higher oil pricesThe Business Times
- How major US stock indexes fared on WednesdaySacramento Bee
- US Market Indexes Reach New HighsGuruFocus.com
- Wall Street ends higher on strong economic dataStreetInsider.com
- S&P 500 tops 2700 on tech advance; Dow, Nasdaq hit recordsReuters
- Energy, tech jolt US equities to new record highsFinancial Times
- UPDATE: Dow tests close above 25000, as fresh round of records fall on energy ...Morningstar.com
- US indices hit record closing highs on upbeat dataIndiainfoline