The Democrats have been very good for America's corporate economy, and the trillions that corporate America has been hording are finally, finally now being put to use in expanding hiring and growing the economy.
Oil, the Federal Reserve and an expanding economy set the tone for U.S. stocks in 2014, as the Standard & Poor’s 500 Index rallied to unprecedented highs and extended the bull market rally past 200 percent.
The S&P 500 (SPX) closed 53 times at a record and the Dow Jones Industrial Average (INDU) climbed above 18,000 as accelerating growth fueled optimism in the economy and accommodative central banks sent risk-seeking investors into equities. Energy shares tumbled and airlinestocks soared as the largest U.S. crude output in three decades and OPEC’s refusal to cut production led to a 46 percent plunge in oil prices.
After last year’s 30 percent rally in the S&P 500, “it’s tremendous to be somewhere up in the double digits,” Richard Sichel, chief investment officer at Philadelphia Trust Co., which oversees $2 billion, said in a phone interview. “Stock investors should be very happy about having a follow-through like that. There’s optimism about the economy, and lower gas prices helped as far as consumer confidence.”
The S&P 500 rose 11 percent to 2,058.90 after gaining in 2013 by the most since 1997. While the S&P 500’s 1 percent loss on Dec. 31 left the index down 0.4 percent for the month, breaking a streak of six straight December gains, the index completed its third straight annual advance of more than 10 percent for only the third time.
The Dow added 7.5 percent to 17,823.07, slipping below 18,000 on the final two days of trading. TheRussell 2000 (RTY) Index of small companies climbed 3.5 percent, while the Nasdaq Composite Index advanced 13 percent.
Doesn't seem to be too much "uncertainty" these days. Wonder why that is. Oh, yes, maybe it's because Republicans are now supposed to be taking credit for the Obama economy they've been attacking for six years?
Of course they are. Will the public buy it heading into 2016?
Only if the Dems let them.