The Week In Review


The major averages are on track for their fifth consecutive month of gains. The S&P 500 added roughly 2.3% last week, while the Dow gained just under 2% for its best week since December, nearing the 40,000 level. The Nasdaq Composite, rose 2.9% last week.

The gains have been fueled by the Federal Reserve's meeting last week when they left rates unchanged, but signalled possible rate-cuts later in the year. Enthusiasm for tech stocks and AI-related stocks along with Bitcoin remain the leaders for 2024. Overall investor sentiment remains above its historical average, according to the latest weekly American Association of Individual Investors Sentiment Survey, reflecting persistent market optimism. Still, some investors fear the potential impact of an overextended rally and higher-for-longer interest rates.

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