The fifth straight winning week passed with S&P 500 reaching levels above the 5.000 for the first time in the history of this index. Analysts are noting that the reason for such a move is the latest published revised inflation data in the US, which reached 0.2%, from 0.3% previously posted for the same period. Still, there are others analysts, who are noting that from the beginning of this year, the investors’ confidence is supported by overall positive data for the US economy as well as expectations on the forthcoming Fed's rate cuts. The highest weekly level was reached on Friday`s trading session, at level of 5.026, where the index finished the week. For one more time, tech companies were the ones that added the most to the value of the index. Nvidia was traded higher by 3.6%, while Alphabet was up by 2%. Also, semiconductor`s stocks continue to be in the spotlight of the market.
After the index crossed the 5K line, and for one more time the ATH, it is currently extremely hard to predict where the-stop-level might be. Some analysts are noting the so-called FOMO moment (fear of missing out) which might further fuel the S&P 500 in the coming week(s). Since the middle of January this year, the index continuously moves within the overbought sentiment.
After the index crossed the 5K line, and for one more time the ATH, it is currently extremely hard to predict where the-stop-level might be. Some analysts are noting the so-called FOMO moment (fear of missing out) which might further fuel the S&P 500 in the coming week(s). Since the middle of January this year, the index continuously moves within the overbought sentiment.
