SPYV - Bull Market Momentum Is Gaining Strength
2024-03-31 12:30:46 ET
Summary
- A strong first quarter performance for the major market averages suggests a positive outlook for the rest of 2024.
- Financial conditions are easing and positive rates of change in the manufacturing industry and housing market are supporting economic expansion.
- Inflation remains low and the upswing in productivity is helping to lower labor costs, contributing to disinflationary trends.
A phenomenal first quarter of performance for the major market averages bodes extremely well for the remainder of 2024. Barron’s indicated that when the S&P 500 rises 10% or more in the first quarter of a year, dating back to 1950, the index has finished higher 91% of the time over the remaining three quarters for an average gain of 6.5%. The good news on the quantitative front does not end there, but before I build that case for additional market gains, let me review why I think the momentum behind this bull market is gaining strength....
Bull Market Momentum Is Gaining Strength