The average price of S&P 500 stock is hitting a new record, so watch for a wave of share splits

Asian shares open mixed after U.S. stocks close at record high. S&P 500 closed in a three-day lull to close at a record. Asian shares meander after S-P 500 sets another record at record highs. Asian markets open mixed with mixed reaction to the news.

Watch for potential wave of share splits as the average price of S&P 500 stock hits $160, says Strategas. Companies that split their shares outperformed the broader market by a "meaningful margin" in the two months after the effective date, the firm says.