It seems like there is no relaxation for equity markets since the beginning of this year. The S&P 500 reached a new all time highest level on Thursday`s trading session at level of 5.167. This peak was again supported by US tech companies, where NVDA capitalisation was brought up to the levels above $2 trillion. Currently there are an emerging number of analysts who are noting that it is maybe a time for profit-taking from this tech company, while there are still a high number of those who are noting that the company still has a way to go. It should be noted that Friday brought a relaxation in prices of tech companies, where Nvidia shares dropped by nearly 5%, Marvel Technology lost some 10%, while Costco slipped by 7%.
The latest surge was supported by the labor data release for February as the number of jobs beated market expectations. At the same time there has been an increase in the US unemployment rate. These data are suggesting higher potential for Fed's rate cut, which for one more time boosted investors' positive sentiment. Since the beginning of this year the index is moving within a highly overbought momentum. As long as current hype holds strongly among investors, there will be no time for relaxation for S&P 500.
The latest surge was supported by the labor data release for February as the number of jobs beated market expectations. At the same time there has been an increase in the US unemployment rate. These data are suggesting higher potential for Fed's rate cut, which for one more time boosted investors' positive sentiment. Since the beginning of this year the index is moving within a highly overbought momentum. As long as current hype holds strongly among investors, there will be no time for relaxation for S&P 500.
