After some turbulent days, the American index can rise today properly. For the end-of-year rally expected by many has so far failed to materialise.
A very volatile week is behind us, with all the central bank meetings and the big drop. The S&P 500 had already sniffed its 68th all-time high, but ultimately fell 1.94 percent for the week. The big expiration ended down 1.03 percent. Once again, the big market is struggling with its 50-day line. But the annual increase of 23 percent is still very lush.
Google, Microsoft, Apple and of course Tesla were the main drivers of the rise in the S&P 500 this year. Together, these companies account for over $10 trillion in the index. So that’s over 25% for just four of the 500 stocks in the S&P.
Currently, the index is trading up 1.52 percent at $4637.52.
–>For more updates, follow me on Twitter:
@JRC_Capital