Thursday, June 20, 2024

The worst is over.. Thanks to investor confidence, Wall Street continues its bullish streak


As Wall Street ended a bear market that began in January 2022, the “Standard & Poor’s 500” index rose on Thursday, completing its upward journey of about 20 percent since its last decline on Oct. 12, 2022.

The index closed at 4,293.93 points on Thursday, supported by gains in key tech stocks, crossing the line between bearish and bullish markets, and investors are sure to be in a mood of fear and greed buying into the index. CNN – This measures investors’ willingness to take risks, which peaked on Thursday.

Surprisingly, markets have been resilient over the past nine months as losers in 2022, such as tech and media, have bounced back in hopes that the worst is over.

Stocks also rebounded last week due to the end of the US debt ceiling crisis and hopes that the Federal Reserve will pause interest rate hikes at its June meeting.

However, analysts fear that the rally will be short-lived. “We’re very late in the economic cycle and it’s starting to slow down,” Sameer Samana, senior global market analyst at Wells Fargo investment firm, told CNN. “A recession. Maybe later this year.”

Samana explained that there have been dramatic events where stocks have crossed over from past bull markets, such as war and the banking and credit crisis in Europe, and he believes the markets are now in uncharted territory.

It was the first recession to coincide with a Wall Street boom, and he said there was “no desperation” in this market.

(Nicole Goodkind – CNN)

See also  Dollar Expectations in 2024... There is a safe fall in interest rates and pressures

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

The easiest way to access the best UAE stocks

The most common way to invest in the UAE...

The Rising Demand for Model Ships in Dubai

Dubai, known for its stunning architecture and vibrant economy,...

Exhibition Stand Builders in Dubai

Dubai, a global hub for trade and commerce, is...

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...