The S&P 500 (Index: SPX) set no new records during the week of trading ending on Friday, May 10, 2019, where stock prices mostly appeared to react to the noise generated by trade negotiations between the United States and China.
Overall, the index stayed within the typical range of values our dividend futures-based model would project if investors were primarily focused on the distant future quarter of 2020-Q1. Not uncoincidentally, this period coincides with the expectation that the Fed will next act to cut its Federal Funds Rate during that quarter, according to the