The stock market’s postelection rally may have gone too far, too fast.
The stock market's postelection rally may have gone too far, too fast. The S & P 500 surged 4.7% last week, its biggest weekly gain since November 2023. The Dow Jones Industrial Average and Nasdaq Composite also posted strong gains, up 4.6% and 5.7% in the week, respectively. The major averages also hit all-time highs.
"Since 2009, when more than 25% of SPX components hit a 52-week high, 10-day returns have averaged -0.49% and higher just 43% of the time. days later, the SPX has been lower eight of the last ten times averaging a -1.65% return," Krinsky said. The S & P 500 closed Friday's session at 5,995.54 after briefly trading above 6,000 for the first time. Anything more, and investors should take profits, according to Citigroup strategist Scott Chronert.
Stock Markets S&P 500 Index Dow Jones Industrial Average NASDAQ Composite NVIDIA Corp Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Best Movie About Wall Street Is Not, in Fact, 'Wall Street'Cropped poster for Inside Job documentary
Read more »
Breitbart Business Digest: Wall Street Sides with Harris, Main Street Sides with TrumpSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Stuart Varney: Trump's resounding victory set off a huge Wall Street rallyFOX Business' Stuart Varney discussed President-elect Donald Trump's crushing victory over VP Kamala Harris to become the 47th President of the United States.
Read more »
Trump's Tariffs Enjoy Public Support, Wall Street OppositionA recent poll reveals that while a majority of American voters favor Trump's tariffs, Wall Street economists strongly oppose them. This division highlights a potential discrepancy between the economic theories and real-world public opinion.
Read more »
Breitbart Business Digest: Trump Wins the Economic Debate While Harris Courts Wall StreetSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Billionaire investor says Wall Street 'very convinced' Trump will win 2024 electionOne billionaire investor and former Soros money manager is 'very convinced,' along with market indicators, that former President Donald Trump will win the 2024 election.
Read more »