What's moving markets today: Live updates - CNN

The S&P 500 and Nasdaq's new closing records did not come as a surprise to everyone. Rather, some analysts say the records are proof that the United States in doing better than its peers.

The observation I had was that it looked like American supremacy," said Mark Dowding, co-head of developed markets at BlueBay Asset Management.

The strong performance in US stocks but also in the US dollar "is highlighting that compared to the rest of the world, the US is dominant for the time being," said Dowding.

The economy was on solid footing, he continued, and clearly the recession worries from just a few weeks back were overplayed.

With the first quarter GDP reading due on Friday, Dowding is keeping his eyes peeled.

"If a historically weak quarter is that good, it tells you a lot about how well the US is doing," Dowding said.

Usually, the first quarter of the year is weaker than the others. Plus, the economy is powered by the US consumer, who is doing well on the whole with unemployment low and wages rising.

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https://www.cnn.com/business/live-news/stock-market-news-today-042419/index.html

2019-04-24 17:17:00Z
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