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...Ronald Temple, chief market strategist at Lazard, said: “A rally driven by seven to 10 stocks is not one most people think can last three years.”...
...The index still remains a little way off its record intraday high of high of 4,818.62 set a little over two years ago....
...“Whatever the reasons for the small stocks’ superior results, the implication is obvious: buy little.”...
...If you take the Magnificent 7 out of the S&P 500, its multiple moves from 22 to 19. The S&P 350 is at 14....
...Even smaller stocks are finally catching up a little, with the Russell Midcap index (+4.3 per cent) and the Russell 2000 (+3.6 per cent) leading the Russell 1000 (+3.2 per cent) in March, notes Bank of America...
...Looking at a 20-year chart of the price/earnings valuations of the S&P 500 and its small cap sibling the S&P 600, it seems possible that this is what has happened to small stocks: Small caps (dark blue...
...It has had little impact on global stock markets. Quite the contrary — the S&P is 20 per cent higher than when this conflict started in October last year....
...Another factor is S&P has just two offices, Moody’s one and Fitch none in Africa, which we believe contributes to the unfair coverage the continent receives....
...Contracts tracking Wall Street’s benchmark S&P 500 and the tech-heavy Nasdaq 100 rose 0.3 per cent and 0.4 per cent ahead of the New York open....
...At least since the US became the greatest power in the world, a little more than 80 years ago, American political parties have wavered on foreign policy, depending on whether they were in the presidency...
...This may seem a little odd, given that the market started moving up in March of 2020. But we wanted to separate the recovery from the Covid panic from the sustained rise in markets that followed it....
...Ronald Reagan was right: “Entrepreneurs and their small enterprises are responsible for almost all economic growth in the US.”...
...“The striking thing about the statement is how little change there was. It might be as little change in a statement as we’ve seen in a while,” he said. Additional reporting by Peter Wells in New York...
...Ronald Temple, chief market strategist at Lazard, said the distinction reflected more severe inflation problems in the UK, and more vocal intervention by central bankers in the eurozone....
...Contracts tracking Wall Street’s benchmark S&P 500 and the tech-heavy Nasdaq Composite were little changed ahead of the New York market open after both indices closed near to flat in the previous session...
...And — as a chart borrowed from Duncan Lamont at Schroders shows — the extent of concentration in the S&P 500 is not something investors are used to....
...In Europe, strategists seem to be scrambling for words to describe a set of companies that share a continent, but little else....
...Wall Street futures were also little changed, with contracts tracking the S&P 500 and the Nasdaq Composite down 0.1 per cent ahead of the New York trading session....
...Australia’s S&P/ASX 200, Mexico’s S&P/BMV IPC and Brazil’s Bovespa are a little way off peaks set over the past three months....
...The S&P, as you say, is down 10 per cent from its peak in July. And yeah, valuations are a decent part of that right?...
...My UK online broker offers me a couple of S&P 500 funds and a FTSE 100 one. I think I’ll pass, however — and here is my logic....
...“You need a little greed, you need some of those animal spirits, maybe a pick-up in M&A [mergers and acquisitions] or a booming IPO market, for small-caps to really take off,” he added....
...Letter in response to this article: That’s not Biden’s job / From Leighton P Roper Jr, Arlington, VA, US...
...Many are now snapping up options tied to the S&P that profit if the market keeps on rising....
...S&P already holds a negative outlook on the country....
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