Investors clearly find the U.S. stock market an attractive haven in a world of incredibly low (or negative) interest rates.
The S&P 500 Index SPX, +0.04% hit an all-time intraday high on July 10, rising above 3,000 for the first time, before closing at 2,993.07, its second-highest close. The Dow Jones Industrial Average DJIA, +0.65% and the Nasdaq Composite Index COMP, -0.19% also hit all-time intraday highs that same day.
So did more than 10% of the S&P 500’s components.
With negative-yielding bonds around the world totaling more than $13 trillion, it is no surprise to see money continuing to pour into U.S. securities markets. A continual stream of dovish language from Federal Reserve Chairman Jerome Powell, adds fuel to the momentum from the Fed’s