Another round of record highs – Here’s what you need to know…

Original Link | RockwellTrading by Markus Heitkoetter

Stocks soared today. Following a rally overseas, the major indices opened higher and continued to rally after the open.

Today it was tech stocks and the NASDAQ leading the way with a 1.1% gain. Without a bear in sight, the bulls took control and the major indices finished with new record highs.

With stocks higher across the board, the VIX (aka Fear Index) was crushed, finishing 8.7% lower.

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Here’s where the major indices ended the day:

• The S&P finished 0.7% higher. Up 17 points, the S&P ended at 2,599.
• The DOW ended with a 0.7% gain. Adding 161 points, the DOW closed at 23,591.
• The NASDAQ was up 1.1%. With a 72 point gain, the NASDAQ finished at 6,862.

Crude Oil (CL) bounced back from yesterday’s drop. With a 0.7% gain, CL ended at $56.84 a barrel.

Will this trend continue? Goldman Sachs Group thinks so. Today Goldman raised its 2018 target for the S&Pto 2,850 (from 2,500), expecting strength in U.S. stocks to continue next year.

Bitcoin retreated from record highs today after a $31 million cryptocurrency theft. The company Tether announced that $31 million was removed from the Tether Treasury wallet and transferred to an unauthorized bitcoin address.

Tomorrow is a busy day for the economic calendar. We have Durable Goods Data and Unemployment Claims at 8:30am ET, Revised Consumer Sentiment at 10:00am ET, Crude Oil Inventories at 10:30am ET, and FOMC Meeting Minutes at 2:00pm ET.

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