Bulls thrive in low-volatility environment

MAJOR US indexes finished last week at all-time highs as corporations promised earnings growth, and central banks around the world pledged to keep interest rates at record lows.

It was a sleepy summer week on the US stock market as exchanges saw their lowest volumes of the year, but it is in this low-volatility environment that the bulls thrive.

Strong earnings from Bank of America, Microsoft and others meant that technology and bank stocks took the reins from utilities and telecommunications stocks, which led the market in the first half of the year.