Excerpt from Bloomberg quoting DataTrek Research:
…. “On Monday, a government report showed that the job-openings rate for the durable-goods manufacturing industry reached 4 percent in October, a record in data back to 2000. There are reasons beyond the economic data that should give bulls hope, according to DataTrek Research. For one, the Federal Reserve is sounding less hawkish, suggesting it will not keep hiking interest rates blindly until some notion of “neutral” has been reached. Also, the big drop in Treasury yields over the last month should help support equity valuations. Plus, the dollar has stopped appreciating and has largely moved sideways in the past month, which should help exporters; 37 percent of S&P 500 revenues come from non-U.S. sources”….
Read the full article here on Bloomberg!