QVMM - S&P 500 Reaches New Heights As Likelihood Of Q3 2024 Rate Cut Rises
2024-07-15 08:40:00 ET
Summary
- The S&P 500 index closed out the week at 5,615.35, some 0.9% higher than it finished the preceding week.
- The biggest market-moving story of the week came on that day as Federal Reserve chair Jerome Powell testified during his second day of congressional testimony the Fed was standing by to cut interest rates.
- We find that timing aligns with the current time horizon of investors, who continue to focus on the current quarter of 2024-Q3 in setting current-day stock prices.
The S&P 500 ( SPX ) reached new highs during the trading week ending on Friday, 12 July 2024. The index closed out the week at 5,615.35 , some 0.9% higher than it finished the preceding week, after hitting a new all-time record high of 5,633.91 on Wednesday, 10 July 2024....
S&P 500 Reaches New Heights As Likelihood Of Q3 2024 Rate Cut Rises