The Charging of the Bulls In Wall Street

🌟🌟🌟If I can only use 1 sentence to describe the markets today, it would be : 

"The Charging Of the Bulls In Wall Street" 

There is euphoria in the markets as all 3 major stock indexes rose to new records on Thursday, boosted by investors' growing conviction that the post Covid surge in borrowing costs is coming to an end soon.

The Dow Jones Industrial Average led the way, closing just under 40,000 points.  Industrial and bank stocks led the S&P500 to close at the historic 5200 mark.  The Tech Heavy Nasdaq Composite gained 0.2%.

Another important development is Switzerland became the first country to reduce interest rates on Thursday since Central Banks began their campaign against inflation. 

The Swiss National Bank's rate decrease as well as comments from central bank officials in the US and Europe have indicated that rates are set to decline across the developed world despite signs that inflation is stickier than expected.

The Federal Reserve on Wednesday kept its benchmark Fed funds rate at 23 year highs between 5.25% and 5.5%.  However a narrow majority of Feds officials reaffirmed projections for 3 rate cuts this year.

My US ETFs and stocks have done well this year.

My best performing ETF is $Energy Select Sector SPDR Fund(XLE)$ which tracks the performance of the US Energy Giants like Exxon Mobil, Chevron Corp and Warren Buffett's favourite oil company $Occidental(OXY)$  .  I bought XLE prior to the Ukraine war and held it till now as I believe that the demand for oil far exceeds its supply.  XLE has also been paying nice juicy dividends every 3 months. The current dividend yield is 3.15%.   XLE has risen 56% since I bought it in 2022.

My best performing US stock is $Alphabet(GOOGL)$  which has risen 27% since I first invested in 2022.  It has given me a few scares as it went below USD 100.  Recently its chatbot Gemini created "woke" images which were historically inaccurate.  But I remain steadfast in my conviction and held on.

The markets do not move in straight lines but that is the price I am willing to pay for outsized returns in the long term. 

Building my portfolio can be likened to the wise saying  - "Little Drops of Water Makes The Mighty Ocean". 

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