SPX: not ready to slow down
The S&P 500 counts the sixth straight week of winning streaks, and seems ready to count for more. During the previous week a fresh new all time highest level was reached at the level of 5.876. Only during the previous week the index gained 0,96%. Tech companies were again in the center of the market attention. The environment of decreasing interest rates and posted positive quarterly results of companies included in the index, continue to be main drivers of investors optimism.
As per analysts comments, the 75% of companies which posted quarterly results have beaten market expectations, which was another positive boost for the index. On the opposite side are some analysts who are noting that such moves of equities are “atypical” for the election year. Normally, the equity market will post some volatility prior to elections, considering that the US is only three weeks away from the final election day. On the other side are analysts who are more oriented toward the economical background of such strong moves. Namely, they are noting that the ongoing surge in equities is partially due to government deficit spending, as it is currently 14% higher from the same period last year.
As per analysts comments, the 75% of companies which posted quarterly results have beaten market expectations, which was another positive boost for the index. On the opposite side are some analysts who are noting that such moves of equities are “atypical” for the election year. Normally, the equity market will post some volatility prior to elections, considering that the US is only three weeks away from the final election day. On the other side are analysts who are more oriented toward the economical background of such strong moves. Namely, they are noting that the ongoing surge in equities is partially due to government deficit spending, as it is currently 14% higher from the same period last year.
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