S & P 500 and Nasdaq’s new closing record did not come as a surprise to anyone. Rather, some analysts say the documents are evidence that the US does it better than its peers
The observation I had was that it looked like US supremacy, says Mark Dowding, co-chair of developed markets at BlueBay Asset Management.
The strong trend in US stocks but also in US dollars “points out that, compared to the rest of the world, the United States is currently dominant,” Dowding says.
The economy stood firm, he continued, and it was clear that the recession problems from a few weeks were overlapping.
With the first quarter GDP reading on Friday Dowding is keeping an eye on it.
“If a historically weak quarter is so good, it tells a lot about how well the United States does,” says Dowding.
Usually, the first quarter of the year is weaker than the others. The economy is driven by the American consumer, who thrives well with unemployment and low wages.