Wall Street sets new record highs

Wall Street made fresh record highs at the start of the week on Monday with risk-on markets and a softer dollar as the price of oil rallies fuelling a demand lead trading environment.

Oil intermarket: DXY softening and oil gets a break towards 200 4hr sticks

The Dow Jones Industrial Average made 88.76 points, or 0.5%, to close at a record 18,956.69 while the S&P 500 index accomplished  a record high with a further gain of 16.28 points, or 0.8%, to close at a record 2,198.18. The Nasdaq Composite Index  gained 47.35 points, or 0.9%, to finish at 5,368.86. 

The bubble just got more inflated even while market uncertainty around Trump and the Fed along with very problematic areas in the EU and bearish prospects for 2017 are just around the corner. US interest rates and the US dollar stalled overnight, consolidating a 6% rise in the latter since the US election. The US dollar index consolidated a 14-year high and the Fed funds futures firmed slightly to now imply a 100% chance of a rate hike in December.