Wall Street hits new record highs
US stocks jumped to fresh records on August 15 behind stronger oil prices, while European markets were little changed. All three major US indices pushed to fresh records for the second time in three sessions. Prior to August 11, that feat had not been accomplished in more than 16 years.
Wall Street stocks have been propelled to fresh records by the comparative strength of the US economy, coupled with expectations of accommodative monetary policy, including very low interest rates set by the Federal Reserve.
Analysts said the August 15 records were largely due to positive momentum, on a light day as far as economic reports and earnings.
Besides energy equities, which were boosted by higher oil prices, sectors with big gains included industrials, financials and materials.
London and Frankfurt saw small gains while Paris was nearly flat in the absence of major European data and with trading subdued on an official holiday in France and parts of Germany. –