Wrong US Fed signal this week may end the rally

The sharemarket rally continues with the S&P 500 reaching its longest winning streak in 20 years. Strong US companies' reports are part of the reason, with more than 100 to come this week, including Palantir overnight. If that trend continues, so may the rally, but what the US central bank says this week about the economy will be very important. (It's worth noting defence stocks are one sector benefiting most from the rally.) Locally, the market will assimilate Labor's election victory. To start us off we had Westpac deliver half-year profits in line with expectations this morning.