SPX: S&P 500 Futures Poised to Extend Record Run as Index Takes Aim at Lofty 6,000

Post-election rally boosted stocks left and right with all three major indexes soaring to record highs. Day after day. When break?

• The S&P 500 index jumped to another record high on Friday and futures markets showed the broad-based gauge was positioning for more gains at the opening bell in New York. Markets are still too drunk from the election result with the Trump punch getting served to keep investors splurging their cash on risk assets. With all that fanfare and celebration, is there substance to the rally or is it more froth than anything?
• Markets are betting that once-and-future President Donald Trump will bolster the US economy through policies that seemed to work during his first four years in the White House. But this time around, Trump is even more adamant to pursue growth. His agenda includes a reduction of the corporate tax rate to 15% from 21% and slapping tariffs of 60% on Chinese goods. Also, regulations are in for a shakeup.
• In this context, the S&P 500 pressed higher by 0.4% on Friday to close just 5 points shy of the 6,000 milestone. Still, an all-time high. The Dow Jones Industrial Average gained 0.6% to clock out at 43,988.99. And yes — it did cross 44,000 points for the first time ever before slipping back under. The Nasdaq Composite also ended higher by a modest 0.1% to 19,286.78 points.