The S&P 500 is nearing all-time highs near $4,800, but a late-day pullback due to rising Treasury yields has pushed assets lower. The market’s risk rally, driven by rate cut expectations in 2024, has been slowed down by a surprise increase in US 7-year Treasury yields, causing a reversal of the week’s risk appetite flows.
Investors are betting on looming rate cuts to begin as early as March and to reach a maximum of 160 basis points by the end of 2024, indicating that money markets are enthusiastic about an accelerated pace of Federal Reserve rate cuts in that year. With a limit set for January 2021 at $4,814.68, the stock index is headed for its ninth consecutive week of increases in the S&P 500.
Since rising from the 200-day Simple Moving Average at $4,250 in early November, the S&P 500 has been rising. The index is positioned to break out of all-time highs if it crosses the $4,800 barrier, but it is positioned for a lengthy slide into the last swing low from late October at $4,100 if it pulls back from severely oversold circumstances.
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The S&P 500 is nearing all-time highs near $4,800, but a late-day pullback due to rising Treasury yields has pushed assets lower. The market’s risk rally, driven by rate cut expectations in 2024, has been slowed down by a surprise increase in US 7-year Treasury yields, causing a reversal of the week’s risk appetite flows.Investors …<\/p>\n","protected":false},"author":13,"featured_media":33381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6885,8195,516],"class_list":["post-94747","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-fed","tag-rate-cuts","tag-sp-500"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=94747"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94747\/revisions"}],"predecessor-version":[{"id":94756,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94747\/revisions\/94756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/33381"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=94747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=94747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=94747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}