(JULY 31): The US equity market has been on a tear. The Dow Jones Industrial Average and Standard & Poor’s 500 are up 9.9% and 10.7%, respectively, year to date. Similarly, the Nasdaq Composite Index has gained 19.3%. While sentiment had been driven by the new US administration, improving global economic growth is providing the backbone to the rally, says A J Kahling, senior manager of trader education and market strategy at broker age firm TD Ameritrade.

Speaking at The Edge Singapore’s Investment Forum 2017, Kahling says the tightening of US monetary policy is an indication of economic strength. There have been two interest rate hikes so far this year. “Interest rates rise because the economy is doing well,” Kahling told the audience at the Suntec Singapore Convention & Exhibition Centre on July 22.

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