Stock Market: Happy Thanksgiving

(Drivebycuriosity) - Today the Americans celebrate Thanksgiving. The feast reminds of the pioneers who lauded their harvests and their survival in the harsh environment of the 17th century. Investors also have a reason to celebrate. The US stock market (S&P 500) gained 16% year-to-date and 19% y-o-y, more than twice the long-term annual average (driveby).

This year´s stock market rally has been driven by a strong global economy (recovering Europe & continuing high growth rates in China, India and other emerging markets), climbing company earnings and a change of the US political climate. The new US administration is more business friendly than their precursor and is working on corporate tax cuts and stopping the trend to more regulation.

I believe that the rally will continue through year-end and in 2018 thanks to lower corporate taxes and further rising company earnings fueled by the accelerating technological progress (explained in my blog post earnings).

Happy Thanksgiving to everyone!