Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Political Calculations (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

The S&P 500 Rises Into a Bull Market

% of readers think this story is Fact. Add your two cents.


Perhaps the biggest news of the week is that the S&P 500 (Index: SPX) rose 0.4% to close the week at 4298.86.

In doing so, it rose over 20% from its bottom of 3,577.03 on 12 October 2022. According to MarketWatch, that’s enough for the rising trend for stock prices since that date to exit the bear market that began after the index peaked on 3 January 2022. The S&P 500 is now “officially” in a bull market.

Although it now qualifies as a bull market, the S&P 500 is still some 10.4% below its record high closing value of 4,796.86 from 3 January 2022.

We find the index’ trajectory continues to put it well within the redzone forecast range in the latest update for 2023-Q2′s alternative futures chart. That forecast range continues to anticipate an upward trajectory for the index through the end of the quarter.

Considering the market moving news headlines of the week, it appears Reuters’ editors finally got wise and stopped trying to shoehorn references to the debt ceiling debate/crisis/deal into each one of its stories about the U.S. stock market, where that political story had near-zero relevance. While we find the wire service does generally very good work, when its editors’ objectivity goes off the rails, it needs to be pointed out. In this case, because it created a need for us to identify additional news sources that are more capable of objectively presenting relevant market news, we can now recommend sources like Seeking Alpha’s Trending News section and Morningstar’s Market News‘ aggregation of other market wire news services for their less slanted presentation.

With that said, here are the market moving headlines for the week that was:

Monday, 5 June 2023
  • Signs and portents for the U.S. economy:
  • US banks could face 20% boost to capital requirements – WSJ
  • Bigger trouble developing in China
  • ECB minions see reason to keep hiking rates despite slowing Eurozone economy:
  • S&P 500 ends lower as traders eye potential pause in rate hikes
  • Tuesday, 6 June 2023
    • Signs and portents for the U.S. economy:
  • Bigger stimulus, currency support developing in China:
  • Exclusive-China’s state banks told to lower cap on dollar deposit rates -sources
  • JapanGov minions rolling out new fiscal stimulus:
  • ECB minions getting desired results from interest rate hikes:
  • US stocks end up as Fed, CPI loom large next week
  • Wednesday, 7 June 2023
    • Signs and portents for the U.S. economy:
  • Fed minions expected to take first ever break in rate hike cycle next week:
  • Bigger trouble developing in China:
  • Bigger stimulus developing in China:
  • Central bankers still excited to keep hiking rates as they get desired results:
  • Bank of Canada hikes rates to 22-year high, more increases expected
  • ECB minions thinking rate hikes are taking too long to deliver desired results:
  • S&P 500, Nasdaq close lower as traders cash in on latest megacap rally
  • Thursday, 8 June 2023
    • Signs and portents for the U.S. economy:
  • Bigger stimulus developing in China:
  • BOJ minions traumatized by decades of deflation want to keep never-ending stimulus alive:
  • Eurozone “technical” recession confirmed:
  • Wall Street ends up amid record low volatility ahead of eventful week
  • Friday, 9 June 2023
    • Signs and portents for the U.S. economy:
  • Bigger trouble developing in China, stimulus showing some effects:
  • BOJ minions claim to be happy to see inflation, will keep never-ending stimulus alive:
  • Nasdaq, Dow eke out weekly gains, S&P 500 pushes further into bull market
  • The CME Group’s FedWatch Tool projects the Federal Reserve will hold the Federal Funds Rate’s target range at 5.00-5.25% when it meets on Wednesday, June 14. But that will change six weeks later, when the Fed’s Open Market Committee is expected to hike rates up to a target range of 5.25%-5.50% on 26 July (2023-Q3). Based on its current projections, that will mark the peak for the Fed’s rate hike cycle that began in March 2022. After that, the FedWatch Tool projects the Fed will initiate a series of quarter point rate cuts at six-to-twelve-week intervals to address recessionary conditions in the U.S. economy starting in November (2023-Q4).

    The Atlanta Fed’s GDPNow tool estimate of the real GDP growth rate for current quarter of 2023-Q2 bubbled up to +2.2% from the +2.0% growth rate it forecast a week earlier.

    Image credit: Photo by Hans Eiskonen on Unsplash.



    Source: https://politicalcalculations.blogspot.com/2023/06/the-s-500-rises-into-bull-market.html


    Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

    Anyone can join.
    Anyone can contribute.
    Anyone can become informed about their world.

    "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

    Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


    LION'S MANE PRODUCT


    Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


    Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



    Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


    Report abuse

      Comments

      Your Comments
      Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

      MOST RECENT
      Load more ...

      SignUp

      Login

      Newsletter

      Email this story
      Email this story

      If you really want to ban this commenter, please write down the reason:

      If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.