Time to throw out the stock-market playbook as S&P 500 nears 3,000? Getty Images Is Wall Street’s traditional playbook in effect? Few of Wall Street’s prognosticators, if any, predicted the S&P 500 would have eclipsed 2,600 before the end of 2017.
Yet, that is where participants find the market with about 24 trading days left in the year, highlighting the challenge of making predictions amid a defiant ascent to records. Investors have shaken off concerns about political uncertainty, a chorus of worries about low volatility,too-rich valuations and torpid inflation.
Read: Investors face ‘extreme mental exhaustion’ in markets where nothing is ‘normal’
Also read: By one measure, stock valuations are at their highest level since 2004
In the abbreviated session of Black Friday, the S&P 500 index SPX, +0.21% marked its fastest rise to a 100-point milestone—closing at an all-time high at 2,602.42—since 1998, according to WSJ Market Data Group. (As the index climbs, each 100-point gain re..Read More →

Bitcoin, ether hit new records over Thanksgiving weekend Cryptocurrenices continued their hot streak over the Thanksgiving weekend as both bitcoin and ether hit new records.
Bitcoin BTCUSD, +5.67% traded at $8,651.77 Saturday morning, up 4.8% on the day. It has soared more than 40% since briefly dropping below $6,000 on Nov. 12.
Meanwhile, ether, another hot crypto but smaller than bitcoin, traded at $476.90 early Saturday and has since pulled back a touch to $474.94, according to CoinDesk. The currency, built on the Ethereum blockchain, traded around $335 only a week ago. It started the year around $8, making its 2017 gains even bigger than bitcoin’s.
While some have certainly profited handsomely from cryptos this year, prices have swung dramatically and there’s no shortage of views about their staying power. On the one side are those who believe this currency is changing the world and others call it all a bubble and mirage. Unlike the dollar and other national currencies, cryptos..Read More →

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