Since the beginning of this year, US equity markets have been supported by both good economic performance and expectations that the Fed might soon start cutting interest rates. The S&P 500 index was continuously moving within highly overbought momentum. Previous week brought some reality checks, with January inflation figures. It seems that inflation remains persistent, which brings to light the probability that the Fed will not cut interest rates with a dynamic previously expected by the market. After reaching a new ATH at 5.050, the index reverted a bit back to the lowest weekly level at 4.921. Still, the index ended the week at 5.005.
Despite the short decline in the value of the index, a total of 53 stocks included in the S & P 500 index reached the highest levels during the last 52 weeks in Friday's trading session. The list includes some known names like MasterCard, Ralph Lauren, Progressive and Eli Lilly. The companies from the tech industry are still among investors favorites, which strongly support the movement of the index to the higher ground. Still, as fears of inflation emerging among investors for one more time, there is a question whether it is time for the US equity market to relax a bit in the coming period, or the FOMO moment will continue to drive this market in the week ahead? In case that the market relaxes a bit, then there is some probability that 4.900 might be the next target in the coming period.
Despite the short decline in the value of the index, a total of 53 stocks included in the S & P 500 index reached the highest levels during the last 52 weeks in Friday's trading session. The list includes some known names like MasterCard, Ralph Lauren, Progressive and Eli Lilly. The companies from the tech industry are still among investors favorites, which strongly support the movement of the index to the higher ground. Still, as fears of inflation emerging among investors for one more time, there is a question whether it is time for the US equity market to relax a bit in the coming period, or the FOMO moment will continue to drive this market in the week ahead? In case that the market relaxes a bit, then there is some probability that 4.900 might be the next target in the coming period.
