{"id":27659,"date":"2018-09-24T07:28:20","date_gmt":"2018-09-24T12:28:20","guid":{"rendered":"https:\/\/insights.tradestation.com\/?p=27659"},"modified":"2019-02-20T22:13:47","modified_gmt":"2019-02-21T03:13:47","slug":"bears-cry-uncle-as-fomo-takes-hold","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2018\/09\/24\/bears-cry-uncle-as-fomo-takes-hold\/","title":{"rendered":"Bears Cry Uncle as FOMO Takes Hold"},"content":{"rendered":"
Stocks kept climbing last week as fears of a trade war morphed into fear of missing out.<\/p>\n
The S&P 500 rose 0.85 percent between Friday, September 14, and Friday, September 21. It was the tenth gain in the last 12 weeks, and keeps the index on pace for its sixth consecutive positive month.<\/p>\n
But, who cares about the S&P? Let’s talk about the Dow Jones Industrial Average<\/a>, which ripped 2.2 percent to a new all-time high. That made it the last of the\u00a0major indexes to escape from the range created by February’s sharp selloff.<\/p>\n The breakout came after the tariffs between Washington and Beijing proved less punitive than feared<\/a>. That allowed investors to bargain-hunt global stocks, especially as the U.S. dollar<\/a> slid to its lowest level since early July.<\/p>\n Other economic news was neutral-to-positive: Jobless claims fell to a new 49-year low, but housing continued to limp. Manufacturing indexes from the Philadelphia and New York branches of the Federal Reserve were mixed.<\/p>\n Stocks associated with risk-taking and growth led the gains last week: Financials, materials, emerging-markets and energy. Safe-haven bonds and real-estate investment trusts fared the worst as interest rates climbed.<\/p>\n Those higher borrowing costs and an array of J.P. Morgan downgrades weighed on housing. Is the U.S. Home Construction ETF (ITB) at risk of breaking down through the bottom of its current range?<\/p>\n