SQEW - Record-High S&P 500 Closing In On 5000

2024-02-06 03:35:00 ET

Summary

• The S&P 500 rose almost 1.4% over its previous week's close to set another new record-high close of 4,958.61 on Friday, 2 February 2024.
• Part of what made the week not boring is how stock prices reacted to the news on Wednesday that the U.S. Federal Reserve had all but taken starting a series of rate cuts in March 2024 off the table.
• The best hypothesis we have at the moment for why investors are holding their attention on the current quarter is that it is still earnings season, with companies reporting their financial results for the fourth quarter of 2024 and providing their outlooks for 2024.

You might think having a stock market index clock in with new highs might get boring, but it hasn't yet. The S&P 500 ( SPX ) rose almost 1.4% over its previous week's close to set another new record-high close of 4,958.61 on Friday, 2 February 2024....

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