The new year started quite positive for the US equities, with S&P 500 reaching its all-time highest level at Friday`s trading session. The index reached the level of 4.840, supported by the solid US fundamentals in terms of lowering inflation, solid jobs market and expectations on forthcoming rate cuts. Also, it should be mentioned that the Michigan Consumer Sentiment preliminary for January reached the level of 78.8, which was its highest level since July 2021. The big tech companies continue to highly support the index, as Juniper Networks, Nvidia and Advanced Micro Devices are among companies which had the highest gains. As per analysts involved in the matter, it seems that businesses around artificial intelligence gained significant investors interest, which will continue also in the future period.
All current data are supporting investors' optimism. As the S & P 500 reached its highest ever levels, at this moment it is questionable where will be the point of market exhaustion. As per RSI, the market is setting the road toward the overbought sentiment, which means that the index value could go higher from current levels. The level of 4.850 could easily be the next target of the index, still, with open road toward even higher grounds.
All current data are supporting investors' optimism. As the S & P 500 reached its highest ever levels, at this moment it is questionable where will be the point of market exhaustion. As per RSI, the market is setting the road toward the overbought sentiment, which means that the index value could go higher from current levels. The level of 4.850 could easily be the next target of the index, still, with open road toward even higher grounds.
