The stock market’s stock bubble is about to end: Bloomberg
BNTC, -0.13% traded just below $19 for the first time since late July on Thursday as investors flocked to the blue chip index amid signs the rally was ending.
The S&P 500 index SPX, +0.03% also ended its week with gains, but was still down 0.4% for the year.
The benchmark 10-year note US10YT=RR, -1.15% fell 0.3%.
The Dow Jones Industrial Average DJIA, +1.20% also lost 0.2%.
The market has been on a tear since late May, when the Federal Reserve eased its policy to ease pressure on the economy and push the economy back towards normal after a prolonged period of recession.
The Fed’s decision sparked a sell-off and a spike in interest rates that has helped drive the U.S. economy to a record $20 trillion.
But a prolonged recession has been the worst-hit part of the economy, leaving millions struggling to find work and the unemployment rate above 8% as the Fed’s interest rate cuts have taken effect.
On Thursday, the Dow ended up 5.9% at 26,821, the S&s off 0.1%.
The S and P 500 futures index were up 1.3% for a three-day high of 2,928.
The Nasdaq Composite Index COMP, +2.29% was up 1% at 6,937.
The Russell 2000 ETF RUT, -2.07% was off 0% at $13.60.
The Dow is up more than 3% this year.