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Dow and S&P 500 finish at records, book 4 weeks of gains in a row MarketWatch 2 hrs ago MARKET SNAPSHOT The Dow and S&P 500 index closed at all-time highs Friday, extending their recent rallies to four weeks in a row, amid a fresh flurry of corporate results to end the first week of earnings season. Investors digested reports from Morgan Stanley, Bank of New York Mellon, Citizens Financial Group and PNC Financial Services Group. How did benchmarks trade? The Dow Jones Industrial Average rose 164.68 points to end at 34,200.67, a gain of 0.5%, for a record close. The S&P 500 index climbed 15.05 points, or 0.4%, to close at a record 4,185.47. ....
Stimulus that saved markets from collapse in 2020 now may be a key risk, warns Putnam Investments MarketWatch 1/26/2021 IN ONE CHART Financial markets avoided collapse last year when the coronavirus first cut a deadly path across the globe, largely because the U.S. and other developed nations rolled out trillions of dollars’ worth of pandemic stimulus. But as COVID-19 vaccines roll out, albeit with fits and starts in the U.S., financial markets could risk running on a “sugar high,” according to Putnam Investments, a global money manager with $192 billion in assets under management. From Putnam’s standpoint, a key risk in 2021 is a further “melt up” in risk assets. “It would be driven in part by the very same policy stimulus that has helped protect the global economy from collapse,” Putnam’s Jason Vaillancourt, co-head of global asset allocation, wrote in a co-authored first-quarter outlook distributed Monday. “Nobody rings a bell at t ....