Posted in company, funds, sectors, tickers

Market Surge

Companies in the S&P 500 posted last week twenty-nine new 52-week highs and no new lows, while the Nasdaq index saw 126 new highs and twenty-one new lows. About 6.77 billion shares changed hands in U.S. exchanges, compared with a 6.58 billion daily average over the last twenty sessions.

Profit taking is gaining stronger ground because fuel service, pipeline, and integrated oil companies increase their capital and acquire more assets. Many investors now purchase the survivors of the oil shakeout, betting a circle of companies would dominate the industry and easily double in price over the next 18 to 24 months.

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