When it comes to YOUR MONEY, we want to take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.
We can thank Jolly Old St. Nick for another record-breaking day at the NYSE.
On Friday, December 20th, the Dow Jones Industrial Average, the NASDAQ, and the S&P 500 all set new all-time highs.
"A lot of risk has suddenly been taken off the U.S. economy and the stock markets, and we’re seeing that optimism reflected in higher stock prices," said Mark Grywacheski, Investment Adviser with the Quad Cities Investment Group.
During Good Morning Quad Cities' Your Money Segment on Monday, December 23rd, Grywacheski explained some of the reasons for what's called the "Santa Claus Rally":
"In the last couple of weeks, we've resolved two of our biggest trade disputes: our trade dispute with China and we renegotiated a trade agreement with Canada and Mexico to replace the NAFTA Treaty," he said.
"Add in the fact that recently economic growth was revised higher and the labor market remains exceptionally strong."
The new U.S.- Mexico-Canada Agreement - or USMCA - replaces the 26-year-old NAFTA Treaty and includes several concessions that benefit the United States.
Click the video above to hear that part of our conversation and Grywacheski's analysis.