Major US stock indexes continued their ascent

Much like the mountaineer crushing a steady climb, the major US stock indexes continued their ascent, with the bellwether large-cap S&P 500 Index, the tech-laden Nasdaq index, and the Dow Industrials index each recording further gains this week. Embracing FOMO (fear-of-missing-out), retail investors bought over US$ 7billion of stocks in the past five trading days, propelling the S&P index to its highest closing level since March 2022.

The key datapoint was the release of Friday’s US jobs report, which came and went without much fuss. The lens of the market has become hyper-sensitive to the unemployment picture on the basis that a deterioration in the jobs market is almost certainly required if the Federal Reserve (‘The Fed’) is going to begin reversing the path of interest rates in 2024. As it stands, the market is currently forecasting more than four separate cuts next year, commencing in the first quarter.

TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Team plc

More articles like this

Team plc

Challenges ahead for Europe’s economy

“The triple shock facing Europe’s economy” I will summarise and it aligns with my recent and past articles. TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on

Team plc

First quarter ends strong for S&P 500 and FTSE 100

The first quarter of the year ended with a shortened trading week for investors before the long weekend for Easter, but that didn’t stop the major indices advancing on the week. The S&P 500 Index gained

Team plc

TEAM plc raises £1.11 million in fundraise

TEAM plc, the wealth, asset management and complementary financial services group, has confirmed that, further to its announcement on 28 March 2024, it has raised the full £400,000 pursuant to the Subscription. Including the Placing, the Fundraise

Team plc

US stock market: Bulls charging, but for how long?

The US stock market would appear to be on a rip. The bulls are clearly charging. But for how long? History would suggest longer than the bears think! Not that I’m great at predicting bear markets.

Team plc

The impact of ‘Carbon Cowboys’ on global climate inequities

In the vast expanse of the climate change frontier, there roam “Carbon Cowboys.” These aren’t the traditional Wild West cowboys, but modern entities, often corporations, quangos, assemblies and governments, who wield immense power over carbon emissions.

Team plc

NEBA Private Clients UAE names Bart Kendall CEO

NEBA Private Clients UAE, a division of TEAM plc, has named Bart Kendall as its chief executive officer. With over two decades of service in the financial sector, his appointment marked a “significant milestone in the