Market update, middle of November 2024
Anticipation of political factors after election results pushed S&P 500 index above 6000, however caution in federal funds rate reduction and Jerome Powell's comments caused a setback to 5870.
It is very important to isolate the effect of "mood" in such a turbulence from fundamental factors. StockMetrum index dropped 5% due to the election euphoria from 48%, but after the setback on November, 15 it grew to 58% instead of returning to 48%. It indicates positive change in fundamental factors and growth opportunities in a short term.
Publication date: 19/11/2024