LSAT - S&P 500 Sets New Record High As Investors Potentially Shift Focus To Q2 2024

2024-01-22 11:15:00 ET

Summary

• After weeks of hovering within easy striking distance of its old record high close, S&P 500 finally broke through and set a new record.
• The index reached its new record on 19 January 2024, closing out the trading week at 4,839.81.
• The record was broken as investors may have shifted their forward-looking focus from 2024-Q1 to the more distant future quarter of 2024-Q2.
• The downside to focusing on 2024-Q2 is that investors will only hold their attention on this quarter until they have reason to shift their attention to another point of time in the future, which can happen with little warning.

After weeks of hovering within easy striking distance of its old record-high close, the S&P 500 ( SPX ) finally broke through and set a new record! The index reached its new record on Friday, 19 January 2024, closing out the trading week at 4,839.81 . The new record is almost 1.2% higher than where it closed the previous week and is 0.9% higher than the old record of 4,796.56 that had been set over two years earlier on 3 January 2022....

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