Markets Make Merry With a New High in a New Week
The euro zone started the week on a subdued note, where the EURO STOXX 50 lost 0.48 percent. There was no U.S. economic news to influence the market, premarket or otherwise, the S&P 500 opened higher, bounced a couple of times near the opening price, and then traded to its mid-afternoon intraday high, up 0.33 percent.
The index drifted lower in the final ninety minutes of trading and closed the day with a trimmed gain of 0.19 percent. But since Friday was an all-time high, any closing gain today was destined to set a new all-time high.
Today’s trading range of 5.56 points was the fourth narrowest of 2013.
Today’s relatively narrow trading range was on light volume, 12 percent below the 50-day moving average.
The S&P 500 is now up 13.41 percent for 2013.
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