Wednesday, March 27, 2024

S&P 500 Closes At A New Record High -- March 27, 2024

Locator: 46854INV.

S&P 500 closes at 5,248.

AAPL: up $3.60 today; up over 2%. 

This sure doesn't feel like an impending recession. CNBC analysts and talking heads have pushed concerns for a recession in 2025.

Cuts: on another note, a week or so ago, I opined that there will be no rate cut in 2024.  

Others are starting to come around to that thinking which makes today's S&P 500 record all that more remarkable. One wonders if, at this point in time, the Fed is relatively irrelevant to traders, and certainly irrelevant to long-term investors.

Wow, this gets tedious.

Breaking: now, at 4:26 p.m. CDT, March 27, 2024, panelists on "Fast Money" now suggest that traders are hoping there won't be a rate cut. If there's no ratee cut, that will suggest the US economy is still growing very fast. Very, very interesting.

2 comments:

  1. One could think of a rate increase on November6-7 this is after the election. don

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