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Markets

Wall Street hits record high

Opening sequence

Opening sequence

Markets

Wall Street hits record high

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COMING UP:Wall Street hits record high

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Transcript

00:00:02
>> Wall street kicking off the new week with a fresh record high for the S&P 500. I'm Reuters reporter Conway Gittens in New York. The rally being fueled by optimistic signs here and abroad. Investors in the US are still jumping up and down with glee. With the strongest job creation all year pointing to an economy that's getting stronger instead of getting weaker, as feared.
00:00:27
Renewed confidence in the global economy is also behind Monday's rally. With the UK moving quickly to announce a new Prime Minister, there's less fear out there that Brexit will place a lasting negative impact on the world's economies. And there's optimism that Japan's ultra easy monetary policy will continue after a resounding political victory for the current ruling party.
00:00:49
The escalating worries about the global economy putting the wind beneath shares of Boeing. The airplane maker is the top performer in the Dow. Another factor boosting stock prices, private equity and hedge funds are out looking for bargains. Alliance Data Systems, a data driven manufacturing company, leading the S&P 500 after activist shareholder ValueAct announced it was buying a near 7% stake.
00:01:13
But experts worry the stock market may be getting too rich. Earnings season begins this week and analysts predict this will be the fourth straight quarter of falling profits. That's something not seen since the financial crisis.