“The current move higher looks to be an adjustment to several months of data that suggested that the US economy has accelerated over the course of 2018. In particular the labor market looks to have tightened considerably, and recent commentary by the FOMC suggests that this has not gone unnoticed,” said Michael Shaoul, chairman and CEO of Marketfield Asset Management.
Today’s move down alludes to a market correction as the Dow closed at a record high for the 15th time this year at the close of yesterday’s trading session.
“The United States economy is really rolling. It’s probably going to continue for some time. And generally, when the U.S. economy is rolling, the world economy comes right behind it,” said Jamie Cox of Harris Financial Group.
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