More stocks are joining the party back toward records

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 72%

Investment Strategy News

Stock Markets,S&P 500 Index,Exchange-Traded Funds

The S&P 500 is marching back toward record highs, and it's not being led by megacap tech alone.

The S & P 500 is marching back toward record highs, and it's not being led by megacap tech alone. More than 80% of S & P 500 stocks closed above their 50-day moving average last week — the most since April — Roth MKM chief market technician JC O'Hara pointed out. The equal-weighted version of the S & P 500 closed at a record, another sign of broadening market participation.

These events have been followed by a median rally of 8% that lasts about two months, chief global investment strategist Tim Hayes said. The S & P 500 ended Friday's session just 0.6% below its all-time high of 5667.20 reached in mid-July. To be sure, Roth's O'Hara noted the stock market was not yet out of the woods. He said the S & P 500 is pushing against key resistance levels. Ehat's more, trading volume remains concerning.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: S&P 500 notches weekly win as Powell tees up rate cutsStock Market Today: S&P 500 notches weekly win as Powell tees up rate cuts
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: S&P 500 closes lower as yields rise ahead of PowellStock market today: S&P 500 closes lower as yields rise ahead of Powell
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopesStock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopes
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 snaps 8-day win streak as energy stocks slideStock Market Today: S&P 500 snaps 8-day win streak as energy stocks slide
Source: Investingcom - 🏆 450. / 53 Read more »