The S&P 500 Continues Upward Trend in 2024
The S&P 500 has had a strong start to the year, with a rise of over 10 percent in the first three months of 2024. This surge has led to the index reaching 22 record highs during this period. Approximately 40 percent of the stocks in the index are currently trading above levels from 12 months ago, indicating a positive trend in the market.
Despite this growth, there have been only three days in 2024 so far where the S&P 500 has fallen by more than 1 percent at close. This stability has instilled confidence in investors, with around $50 billion being poured into US stock funds in March alone. This influx of capital reflects a renewed appetite for stocks and a belief in the strength of the market.
The initial rally in January was driven by expectations of Federal Reserve interest rate cuts. However, this has now evolved into broader optimism for a “soft landing,” with inflation at 2 percent and minimal impact on the economy. Economic data released on Friday was in line with economists’ expectations, reinforcing forecasts for Fed rate moves in the near future.
Overall, the outlook for the S&P 500 and the stock market as a whole in 2024 remains positive. Investors are optimistic about the ongoing growth of the market and are confident in its ability to weather any potential challenges.
“Social media scholar. Reader. Zombieaholic. Hardcore music maven. Web fanatic. Coffee practitioner. Explorer.”