Strong start for stocks after 7th straight monthly gain - NewsBreak

European stocks kicked off September with a strong start, with the major bourses back towards the tops of recent ranges. The DAX rose close to 1% in early trade to 15,980 as German bond yields hit a 6-week high, whilst the FTSE rose to 7,177 at the start. Wall Street dipped slightly on Tuesday in quiet trade ahead of Friday's key jobs report but nevertheless managed to eke out a 7th straight monthly gain like its European and global peers. SPX now up 20% for the year without any sizeable drawdown – the 50-day SMA holding the line every time it's tested and it's now breezed through 4,500 without a glance back. The question now is after 7 months of gains, valuations stretched and economic growth struggling to retain the kind of perkiness it had on the initial rebound, can the market continue to glide higher? A combination of ongoing earnings strength, normalisation of the economic situation as reopening proceeds, and ongoing support from a dovish Fed suggest there is more upside, but not