Economists Optimistic, After Stocks Hit, New Record.
NPR reports that the S&P 500 has risen
above 5,000 for the first time in history.
The broad-based U.S. index of the most-known companies around the globe opened over the
historic milestone at the opening bell on February 9. .
Investors are feeling
optimistic that we have
sidestepped a recession, Sam Stovall, chief investment strategist
at the financial research firm CFRA, via NPR.
According to the latest economic data, the Federal
Reserve appears poised to pull off its goal of achieving
a so-called "soft landing" for the U.S. economy. .
The potential good news comes after a year-long
rate-hiking campaign by the Fed to combat high
inflation amid widespread fears of a recession.
So far, the S&P 500 is up over 5%
in 2024, coming off of a strong 2023,
which saw the index gain 24%.
NPR reports that a select group of stocks,
referred to as "The Magnificent Seven,"
accounted for most of the market's broader gains.
Those companies include , Alphabet, Amazon, Meta,
Microsoft, Nvidia and Tesla.
Those companies include , Alphabet, Amazon, Meta,
Microsoft, Nvidia and Tesla.
Those companies include , Alphabet, Amazon, Meta,
Microsoft, Nvidia and Tesla.
Those companies include , Alphabet, Amazon, Meta,
Microsoft, Nvidia and Tesla.
It's a couple growth sectors,
and that's it. What's leading
the market is still more
growth-y, tech-y stocks, Stephen Suttmeier, chief equity technical
strategist at Bank of America, via NPR.
If you look at the history,
my guess is we spend some
time above 5,000, probably
spend some time below 5,000, Stephen Suttmeier, chief equity technical
strategist at Bank of America, via NPR.
And I think we
can actually move
well beyond 5,000, Stephen Suttmeier, chief equity technical
strategist at Bank of America, via NPR