The S&P 500 closed above 5000 for the first time Friday.
The index has climbed well over 20% over the last 15 weeks, with 14 of those weeks posting gains.
This is the largest move since 1972.
We will get a report on inflation this week and it’s expected the rate could fall just below 3%.
I don’t feel that will be enough to move the Federal Reserve to cut rates in March.
The recent earnings reports have been better than projected, with nearly 80% exceeding projections.
Just another sign that the economy maintains its strength.
The reports from the Magnificent Seven have really been the fuel driving this market as investors see great things ahead for artificial intelligence.
This has been led by Nvidia, Microsoft, Facebook, Amazon and Google (Alphabet).
Arm got a big boost in value last week due to earnings and its
projections of further growth with its alliance with Nvidia.
All is not dead in the oil patch as Diamondback Energy announced the merger with Endeavor at a price tag of $26 billion.
This continues the many mergers in the energy field and makes the Diamondback the major player in the Permian.
This all sounds almost too good to be true and is starting to make old-hand investors nervous.
Some would appreciate a little correction sooner than later.
It has been so long since the market was down that I am afraid investors are going to get caught like in 2000.
Don’t forget that we were below 4000 just back in August.
Not predicting anything, but the air is getting pretty thin up here.
