XLC - Macro Risks Rise As S&P 500 Momentum Eases Spotting VOO Support
2024-03-16 10:04:10 ET
Summary
- US stocks received a massive $56 billion inflow last week, the biggest inflow since March 2021, as investors remain generally bullish.
- Consumers are reining in their spending, however, leading to a lowered Q1 GDP forecast from various strategists and the Atlanta Fed GDPnow model.
- Rising gasoline prices and interest rates pose risks to the stock market rally as the second quarter approaches.
- I highlight key areas to watch on VOO's chart as equities' momentum ebbs.
Investors have been pouring money into US stocks. According to this week’s fund flow update from EPFR, equities received a massive $56 billion influx of capital – that is the biggest inflow since March of 2021, a period marked by intense fiscal stimulus along with an accommodative Federal Reserve. Today, the Effective Funds Rate is 5.32%, and the prospect of rate cuts keeps getting pushed out - we'll touch more on that later. ...
Macro Risks Rise As S&P 500 Momentum Eases, Spotting VOO Support