ESGY - Shifting Narratives: What The Highs And Lows Mean For Expectations
2024-07-24 11:17:00 ET
Summary
- Market concentration rose to multi-decade highs as names like Nvidia, Apple, and Microsoft continued to surge higher.
- While we have seen signs of a slowing economy, we have yet to see the signs of outright weakness that would seriously concern us about a more nefarious outcome.
- With the potential for the overarching narratives that have been driving markets to change, so too could the resultant performance of equities.
It has been said that if something cannot go on forever, it will stop.
At times this year, it has felt like someone forgot to share that sentiment with the small number of names pushing US equity indices to all-time highs....
Shifting Narratives: What The Highs And Lows Mean For Expectations