SPX Consolidation Amid Strong Fundamentals
The underlying fundamentals are extremely strong, suggesting the market can afford to take a breather.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
"“Investors are clearly exhausted by the [Middle East] conflict, and you can see it in how little the market reacts to bad news,” said Mark Hackett at Nationwide. “The focus is starting to shift back to fundamentals, where earnings remain supportive, and with institutions already on the sidelines, there’s simply less left to sell.”"
"The macro and earnings backdrop is still supportive and expectations have reset, but without clear resolution on the conflict and stabilization in energy markets, it’s hard to see a sustained move higher."
""It's not at all unusual for the market to want to take a little bit of a breather after six weeks of continually record highs," said Carol Schleif, chief investment officer at BMO Family Office."
"This is a choppy market and if we’re not taking profits when we have them, we will be taking losses a few days later."
""The market is near all-time highs so it certainly is due for a breather, but I wouldn’t expect any material type of crashes or corrections.""
"The market is near all-time highs so it certainly is due for a breather, but I wouldn't expect any material type of crashes or corrections."
""The market is near all-time highs so it certainly is due for a breather, but I wouldn't expect any material type of crashes or corrections.""
""Strong economic data and earnings pushed the S&P 500 and Nasdaq indexes to record high last week, but markets have wobbled amid concerns about rising inflation and potentially higher U.S. interest rates.""
""The underlying fundamentals are extremely strong and it wouldn’t be overly concerning after the rally we have seen in the past 13 months for the market to catch its breath a little bit more in the face of strong earnings.""