Steve Sosnick, Interactive Brokers’ chief strategist, discusses the S&P 500 and if he sees the current momentum continuing in the stock market.
Sosnick sees solid momentum behind the current market rally. Corporate earnings are solid and the US Federal Reserve has backed off further rate hikes.
Photo Credit: Lukas Schlagenhauf via Flickr Creative Commons
Stocks finished mixed, and 1-year inflation expectations appear to be coiling, with a bullish-looking flag of their own, suggesting higher inflation may be on the way.
The Producer Price Index, which measures the change in wholesale prices, rose 2.6 percent in June year over year—its largest increase in 16 months. By contrast, the Consumer Price Index, which tracks consumer prices, showed that the pace of inflation slowed in June. Markets shrugged off the conflicting data, instead embracing the cooler CPI data.
It has been called the most hated bull market in history.
It’s become a yearly tradition for the folks at PNC to figure out how much it would cost to buy each of […]
