Stock market hit record highs, expected to continue momentum with positive economic and earnings outlooks.

From Yahoo Finance: 2024-05-17 17:52:30

The U.S. stock market hit record highs this week, up 11% year-to-date after a 4% drop in April. History suggests stocks tend to build momentum after such pullbacks, potentially gaining 17.4% from current levels. Market analysts predict bullish conditions given an optimistic economy and projected strong earnings. Seminconductor giant Nvidia’s earnings report on Wednesday and consumer sentiment data next week will test market momentum. Sectors like technology and real estate led the recent rebound, with all 11 S&P 500 sectors above their 200-day moving averages. Factors like high valuations and global risks could affect stock trajectory despite overall positive outlooks.



Read more at Yahoo Finance: Stock market’s record-setting rebound may have further to go