(CNBC) U.S. stocks rose on Thursday as a post-election rally resumed, while investors digested a slew of economic data and the Federal Reserve’s decision to raise interest rates.
“It appears that this rally has more room to run and the Fed rate hike can not stop this. The US home builders data has confirmed that the housing market is strong and it echoes what Janet Yellen said last night. All eyes are pinned towards that 20K mark for the Dow and bulls are once again in charge of the market,” Naeem Aslam, chief market analyst at Think Markets, told CNBC in an email.
“This is despite the fact that we are seeing some carnage in the currency market especially if you look at the dollar against the Euro. The pair has made another low against the dollar which we have not seen since 2003,” Aslam said.
