Monday, May 18, 2015 - 12:50 Analysts: US Stocks at New Highs; No Vertigo From High Ylds 0
By Vicki Schmelzer
NEW YORK (MNI) - The Dow Jones Industrial Average and S&P 500 posted new record highs Monday, and the Nasdaq Composite, while off the best levels of the year, may soon revisit the high seen during the tech bubble in March 2000.
Traders have been surprised at the resiliency of U.S. stocks, which have shown no lingering signs of vertigo at the recent run-up in U.S. and eurozone yields. That yields have backed off their highs may be a factor supporting equities, but the rise to new intraday highs has global investors taking another look at U.S. stocks.
Adam Parker, managing director at Morgan Stanley, offered "three simple points" for why they remain constructive about U.S. stocks.