SPX Squeeze From Underpositioned Institutions
Investor confidence was previously bolstered by strong earnings and infrastructure spending, but is now at risk due to new concerns.
Too little corroboration in the last 3 days to call a trend (1 article). Watching for it to gain traction.
"First-quarter corporate earnings season continues in full flow, and investors look forward to fresh reports from notable companies today... According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +12% increase in quarterly earnings for Q1 compared to the previous year."
"Tom Hainlin...said that, 'Irrespective of a lot of geopolitical uncertainty and policy uncertainty, consumers still look like they’re in okay shape and continue to spend money.'"
"Communication Services has been the top-performing segment of 2024 as it has advanced 12.8%."
"U.S. stocks managed to grind to new highs over the past few sessions as investor confidence in a recovery was bolstered by a strong earnings season, the passage of a large infrastructure bill and data showing inflation was rising at a slower pace than feared."