It's February 10, another day on Wall Street, and another grand slam of closing records for America's four biggest equity indices. The S&P 500, the Dow Jones Industrial Average, the NASDAQ, and the Russell 2000 all closed at new record levels on Friday, ending a initially jittery week on a strong footing. And this was the first such grand slam of new records since early December. Since the Russell 2000 index has mostly treaded water since then, while the other gauges have managed to hit successive new highs.
However the Russell is still well below its intraday peak in early December. So that's one to watch for next week. And the equity rallies, once again suppressed Wall Street's fear gauge or Vix, which measures expected volatility of US stocks.
The Vix fell by near the 10 mark again on Friday. And it's close to falling below that mark for the first time since the financial crisis. And the dollar has also managed to shrug off its latest weakness. The DXY Dollar Index climbed for the eighth day running on Friday, despite US bond yields remaining subdued.