2024-04-02 22:07:05 ET
Summary
- The US stock market got off to a very strong beginning to 2024, with VTI rallying close to 10% amid a broadening out of the rally.
- Key risks have already emerged in Q2, however - a hot ISM Manufacturing Prices Paid subindex and a multi-year high in one key sentiment gauge.
- While seasonality is bullish through July, I highlight key price levels to watch on the total stock market index fund.
It's a new quarter, and it remains to be seen if the remarkable equity rally will continue. In all, the total US stock market returned 9.6% from January through March, its best Q1 since early 2019. Markets got off to a shaky start on Monday following the long Easter weekend. While European markets were closed in observance of the holiday, hot data sparked a risk-off trade. Bond yields spiked on a higher-than-expected Prices Paid sub-index reading within the ISM Manufacturing PMI survey. ...
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VTI: U.S. Stocks Too Hot As Q2 Gets Started, Sentiment Soars