by Justin Spittler
U.S. stocks are defying gravity…
Earlier this week, the Dow Jones Industrial Average closed above the important level of 18,000 for the first time since July.
The S&P 500 is close to breaking its July high too. And the NASDAQ, which tracks large tech stocks, is up 16% since February.
Foreign stocks are also rallying. The STOXX Europe 600, which tracks 600 “blue chip” European stocks, is up 16% since February.