The US stock market has experienced a significant surge in recent months, with the S&P 500 and Nasdaq indexes reaching near record highs. Despite concerns over inflation, the ongoing war with Iran, and the impact of artificial intelligence on the economy, the S&P 500 has gained almost 10% since the start of the year.
Market Performance
The S&P 500 and Nasdaq have surged about 15% and 21%, respectively, since the end of March, bouncing back from an Iran war-related slide for their best quarter in six years. The indexes are sitting on healthy gains for the year despite a slight pullback in June. All told, the S&P 500 and Nasdaq are up 9.55% and 12.79%, respectively, this year.
The S&P 500 has clinched 24 record highs this year and is about 1.5% from hitting another. The Nasdaq has hit 20 record highs and is about 3.3% away from another. Investors are closely watching the upcoming quarterly earnings season for insight into companies’ spending plans, particularly in the tech sector.
Expert Insights
Wall Street analysts remain optimistic, with Barclays raising its year-end target for the S&P 500 to 7,800 – implying a gain of 4% across the next six months. However, some investors are cautious about a potential pullback after such a strong quarter. David Laut, CEO at Kerux Financial, said he’s staying prepared for a potential stock market drop as big as 10% to 20% and watching his exposure to technology stocks.
Original reporting: El Paso News (HLL/CB) — read the source article.
