Global Stock Index On Verge Of All-Time High Propelled By “Dow 20,000” Euphoria

Thursday, January 26, 2017
By Paul Martin

by Tyler Durden
Jan 26, 2017

With global stock markets basking in the afterglow of Dow crossing 20,000 for the first time, on Thursday they propelled higher in sympathy with the US, as Asia and Europe are trading solidly in the green, as is the dollar which rebounded strongly off a 5 week low. Copper touched the highest price since November after reports of lower production. Global government bonds extended declines as France’s 10-year yield breached 1% for the first time in more than a year. Gold declined.

The Dow had been flirting with 20,000 points for weeks so it brought widespread cheer when it broke through. It only topped 19,000 in November and this was the second-shortest time on record for the index to jump 1,000 points. The next big milestone on deck is the S&P 2,300 – also the year end target for roughly half of Wall Street strategists – which should be taken out shortly after the open.

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