S&P 500 Hits All-Time High in Historic Run
Consumer sentiment jumps, price outlook hits three-year low
Wall Street is ending the week on a positive note, with stocks hitting an intraday record on speculation the Federal Reserve will start cutting rates this year — bolstering the outlook for Corporate America.
Tweet on S&P 500
Wall Street is ending the week on a positive note, with stocks hitting an intraday record on speculation the Federal Reserve will start cutting rates this year#stocks #sentiiment #feds #inflation pic.twitter.com/XL8qdgRD5A
— The_Journalbiz (@the_journalbiz) January 19, 2024
Bloomberg chart
Another rally in the S&P 500’s most influential group, technology put the gauge on track to become the last of the three major US equity indexes to close at an all-time high. Fueled by hopes that the artificial intelligence boom will keep powering the market higher, the benchmark topped 4,800 on Friday — in a rally that keeps raising concerns about the fact that it’s concentrated in a narrower group of shares.
Equities pushed higher on Friday as a drop in Treasury volatility continued to bode well for risk-taking. Also helping sentiment was a report seen by many as “Fed-friendly,” showing a mix of high consumer confidence and lower inflation expectations.
