Green for 14 of the last 15 weeks
Over the last 15 weeks, going back to the end of October/beginning of November, the S&P 500 has increased by 22.07%. Of those 15 weeks, only one has been a down week, occurring in the first week of 20
Over the last 15 weeks, going back to the end of October/beginning of November, the S&P 500 has increased by 22.07%. Of those 15 weeks, only one has been a down week, occurring in the first week of 2024.
The S&P 500 hasn’t had a run like this since a stretch that ended in March 1972. The last time the Dow and Nasdaq did was in the 1990s.
And the rally is much more broad today. Year to date, only 4 of the 11 sectors are down (energy, materials, real estate, and utilities), which makes sense because commodities are somewhat suffering and bond yields are hard to compete with.
The two best-performing sectors are communications and technology, but healthcare is a really close third and even held the lead for a bit in January.
This is why staying constantly invested and diversified actually matters; runs like these can make up the return for an entire year. At some point, the market will return to a more normal state, as you can see in the first three-quarters of the chart below (even that, to some degree, is not normal).
This week, we will get a fresh read on inflation on Tuesday. Retail sales data is due Thursday and supplier prices will be released on Friday.
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