Bull run may be on last legs

AFTER a wobbly week, US stocks finished at new record highs as the near collapse in the retail industry was offset by the resurgence of the commodities and banking businesses.

This week, stocks are likely to continue their tentative climb even as the debate over the sustainability of the "Trump bump" continues. Some analysts believe the bull market is already getting long in the tooth that even a slight rise in interest rates - or one of a panoply of mounting European Union crises - could be enough to put it down. Recent rallies have the feel of a mountain-climber taking the last few tentative steps to a peak.

The Dow Jones Industrial Average closed above 20,000 for the first time ever a month ago and is already within a percentage point of 21,000.