US Market Climbs Higher Despite Valuation Concerns

Among the major markets, the U.S. has been doing best as its growth prospects have improved relative to other regions

Peter Gee 25 June, 2018 | 12:09PM

bull and bear markets US stock market S&P 500 new york nasdaq

It has been a volatile year for global equities. It started with strong rise in January, a substantial decline in late January and early February, followed by a recovery that never took proper hold, by early April, prices were back to their early February lows. More recently, there has been a slow rise in prices, but the recent gains have barely been enough to generate a year-to-date capital gain.

The MSCI World index of developed markets is up only 2.3% in the overseas markets’ currencies and by only 1.5% in U.S. dollars. Prices remain below their late January peak, with the MSCI World still 3% adrift of its 26 January level.

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Peter Gee  is a Fund Analyst for Morningstar Australia

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