S&P 500 Forecast: Market subdued on Monday following best-performing week of 2023

S&P 500 gained 5.85% last week, its largest weekly gain all year. A break above 4,393 will end the S&P 500’s three-month downtrend by creating a higher high. US Treasury yields rise on Monday after sharp decline the previous week. Michigan Consumer Sentiment Index for November is expected to rise on Friday. Disney, AMC Entertainment, Roblox, AstraZeneca and more issue earnings this week. The index finished up its best-performing week of the year last Friday, rallying 5.85%.

Each company’s influence on the computation of the index is weighted based on market capitalization. This is calculated by multiplying the number of publicly traded shares of the company by the share price. The S&P 500 index has achieved impressive returns – $1.00 invested in 1970 would have yielded a return of almost $192.00 in 2022. The average annual return since its inception in 1957 has been 11.9%.

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