The Closing Look

Stocks raced higher as earnings season officially began and investors embraced more stimulus from global central banks. The Bank of England and the Bank of Canada are set to meet this week. Japan already said more easy money will be coming and that helped stocks break out of range and hit new record highs. After Monday’s close, Alcoa (AA) kicked off earnings season and the stock rallied 5% after reporting their Q2 results.

Gary’s Thoughts: Less said…the better…S&P above big breakout…Dow a smidge above. Keep fingers crossed it holds.