S&P 500 Tops 1,700 for First Time Ever

In the meantime, with the risk of the Fed tapering its bond purchases put off, investors have at least a seven-week window of opportunity until the central bank's next meeting on September 17th and 18th. "I don't think it's going to be the last time we say 'all time high' this year," says Jeff Kleintop, chief market strategist at LPL Financial in the attached video. Officially, the big change in the Fed's economic assessment was that it now says growth in the first half of the year was "modest", where previously it had said it was "moderate." First, because it will be a quarterly meeting, there will be updated FOMC economic projections as well as a press conference. For now, the rally that started June 24th in the aftermath of the last Fed meeting is showing no signs of collapsing, and is quickly closing in on the 10% mark. Viewer Pic

 
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