The Dow also continued to strengthen on the improving oil market.
“Clearly the market has decided the best way to figure out what’s going on with global growth is to look at oil,” Chuck Self, chief investment officer at iSectors, told IBTimes.
Erin Gibbs of S&P Capital IQ argues that stocks might be in the clear if oil can maintain its gains.
“If oil can stay above $40 it will really help earnings growth,” Gibbs told CNBC. “The earnings growth for the Dow is an expected 33 percent for EPS growth this year. This is looking very good for the year.”
Guggenheim Dow Jones Industrial Average Dividend ETF