Year-end focus on Fed policy and sector rotation; US stocks surge to record highs.
PANews reported on December 28th that, according to Jinshi, US stocks are currently at historical highs, with the S&P 500 index only about 1% away from breaking the 7,000-point mark for the first time, and poised for its eighth consecutive month of gains, which would be the longest monthly winning streak since 2017-2018. "Momentum is clearly on the bulls' side," said Paul Nolte, senior wealth advisor at Murphy & Sylvest Wealth Management. "Unless there are unforeseen external events, I believe the path of least resistance for the stock market remains upward." The Federal Reserve meeting minutes will be the focus of market attention next week, with investors closely watching when the Fed might further cut interest rates. Investors are also awaiting Trump's nomination of a new Fed chairman to replace Powell, and any hints from Trump could influence market movements next week. The S&P 500 has risen nearly 18% this year, while the Nasdaq has risen 22%. However, the technology sector, a major driver of this bull market, has recently struggled, while other sectors of the market have performed strongly. According to Anthony Saglimbone, chief market strategist at Ameriprise Financial, these market movements indicate that funds are rotating into sectors with more moderate valuations.
You May Also Like
Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?
Solana Price Suggests a Drop Below $100 as Markets Eye Long-Term $1,000
