• US500 little changed at the start of US session
  • Price remains above 2500
  • Market could be set for first year without 2%+ move since ’05

US stocks remain well supported and close to all-time highs this afternoon with the US500 trading above 2500 after posting a new record peak last night. The latest details on Trump’s tax plan provided a further boost to stock markets across the Atlantic on Wednesday adding to impressive gains seen throughout 2017. 

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 The US500 posted another record high on Wednesday after reaching 2511. Source: xStation

One interesting aspect of the latest push higher is the slow and steady nature of the gains, with a series of small rises characterising recent sessions. In fact the whole year has been relatively quiet in terms of volatility with there failing to be a single day where the US500 (S&P500 underlying) has had a change in excess of 2%. Looking back over the past 17 years there have only been 2 occasions when the market has gone a full calendar year without a 2%, in 2004 and 2005

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 US stock markets have been remarkably calm so far this year, with not a single daily change in excess of 2%.