Despite a quiet opening to the week for the American stock market, due to the Labor Day celebrations across the US, it appears that the US stock market is set to continue its bull run, marking the longest in American stock market history.
The positive sentiment for US shares saw the S&P 500, the broader US stock benchmark index, hit fresh all-time highs. Some traders though remain sceptical, continuing to speculate whether this strong trend can continue.
Although past weeks have seen some weakness in the dollar against the British pound and the euro, its strength has again returned. Some traders are saying this is just a ‘dead-cat bounce’ – a small recovery before moving lower for both the pound and euro. In particular the euro is really struggling with rallies towards the 1.1800 mark.