SPX: in green to end a year?
A week after the S&P 500 reached a new ATH, the market slowed down a bit during the previous week. The new ATH has been tested for a potential for further move toward the upside, however, there has not been enough market strength, so the index reverted just a bit to the downside. The lowest weekly level reached was 6.030 points.
The market's beloved tech companies were traded with a modest negative sentiment, except TSLA. A brand new star of the week was company Broadcom, which surged 24% for the week, after the company published that its AI-generated revenue soared by an incredible 220%. Analysts are noting high probability that the equity market will continue to head toward the upside till the year end. Such sentiment will be supported by the expected Fed rate cut of 25 bps on December 18th. However, they are also noting that the switch from large caps toward the small cap companies has been occurring for some time now, and will continue in the future period, supported by the environment of decreased interest rates.
The market's beloved tech companies were traded with a modest negative sentiment, except TSLA. A brand new star of the week was company Broadcom, which surged 24% for the week, after the company published that its AI-generated revenue soared by an incredible 220%. Analysts are noting high probability that the equity market will continue to head toward the upside till the year end. Such sentiment will be supported by the expected Fed rate cut of 25 bps on December 18th. However, they are also noting that the switch from large caps toward the small cap companies has been occurring for some time now, and will continue in the future period, supported by the environment of decreased interest rates.
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