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Good morning! The US stock market may be causing some jitters, but the data suggests that maybe the Magnificent Seven stocks aren’t as expensive as they seem. Market calm is being bet on, with unstoppable crypto markets potentially making a big win in London. Here’s what’s buzzing.
There’s been a lot of talk about whether the US stock market is overheating, so my colleagues Alexandra Semenova and Matt Turner did some digging to find out the truth. Charts show that the rally isn’t as concentrated as feared, with an equal-weighted version of the S&P 500 hitting a record recently. JPMorgan’s strategy team points out that the Magnificent Seven stocks are actually cheaper relative to the market than they were five years ago. Wall Street bear Michael Wilson believes improving earnings are needed to support stock gains going forward. Barclays suggests selling US government bonds after what they call an “excessive” rally.
As for markets today, S&P 500 futures are down about 0.4% and Treasuries are flat. Stay tuned for more updates!
FAQ: What impact could the booming US stock market have on other asset classes, such as cryptocurrencies?
Feel free to impress your friends with this insight into the current financial market trends!
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