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Dow Jones leads US stocks as new records are set

Yesterday the US stock markets all continued the Santa Claus rally and the gains were led by the Dow Jones, with another all time high at 37,683. The gain of 111 points later into the close, ensured there was a new record there too, as the index set its highest ever closing level, at 37,656.  If one looks at a long term chart and views the steepness of the move, from below 33,500 to where the index closed last night, there can be no denying the impressively dynamic nature of the rise. Right now that chart suggests a move to 38k and beyond does not look out of the question ahead of the annual close tomorrow. As to whether it will get there is another matter of course. Overnight the Chinese markets have joined the party too and charged higher, led by gains of more than 2.5% in Hong Kong. That has helped the US futures to maintain momentum and the Dow Jones future is currently pricing a reopening at around 37,700  

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