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Market News Goldman Sachs: U.S. stocks bull market has just begun, multi positive news push U.S. stocks hit new record on fourth day

Goldman Sachs: U.S. stocks bull market has just begun, multi positive news push U.S. stocks hit new record on fourth day

US stocks closed higher on Thursday. The Dow and S&P rose for the fourth consecutive day. The Nasdaq and S&P both hit record intraday and closing highs.

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The Dow Jones Industrial Average rose 332.26 points, or 1.08%, to 3,055.86 points; the Nasdaq Composite Index rose 167.20 points, or 1.23%, to 13,777.74 points; the US Standard & Poor's 500 Index rose 41.57 points, or 1.09%, to 3,871.74 points .


Because data shows that the US job market is stabilizing, and corporate earnings are optimistic. At the same time, the U.S. large-scale fiscal plan also boosted the market. The Biden administration tried to bypass the Republican Party and launched a $1.9 trillion stimulus plan.


Asian stocks up after US stocks rose 

At midday in Asia, the Nikkei index .N225 closed up 1.54% to 28,779.19 points; the Hong Kong Hang Seng Index opened 191 points higher at 29305; the China Enterprises Index opened 37 points higher at 11,600.


The Japanese stock market closed up more than 1% on Friday, following the rise of U.S. stocks yesterday, mainly due to the brilliant performance of domestic corporate earnings and the expectation that the United States will adopt fiscal stimulus policies.


Goldman Sachs analysts released a research report on Thursday that said US stocks are in the early stages of a new bull market. Since March 2020, the U.S. stock market has ushered in a strong rebound, with the S&P 500 index rising 31% and the Nasdaq composite index rising more than 60%.


Peter Oppenheimer, chief global equity strategist at Goldman Sachs, pointed out: "With the emergence of strong earnings growth, the US stock bull market is still in its early stages."


The report said that this round of strong stock market recovery was driven by both monetary and fiscal policies. The report also believes that the economic stimulus measures introduced by the government may cause us to experience a worse inflation environment than during the financial crisis.


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