Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Wall Street: profit growth and rotation in the S&P 500


September, 03 2024
watermark Economic news

The second quarter of reporting in the United States is coming to an end, and the S&P 500 has shown impressive results: profit growth of 13%, reaching the highest rate since the 4th quarter of 2021.


The growth leaders were the technology, finance and healthcare sectors, each of which significantly exceeded expectations, demonstrating profit growth of more than 20%. At the same time, only two sectors — raw materials and real estate — reported lower profits.


In addition to increasing profits, the S&P 500 index showed signs of positive rotation. This means that investments are distributed more evenly between different sectors, which is an encouraging signal for investors who fear over-reliance on technology stocks.


Charles Schwab data confirms this trend: over the past month, the S&P 500 index has surpassed 61% of stocks, while over the past year this figure has been 14%.


Nevertheless, the Magnificent Seven, a group of seven technology giants, continues to show strong momentum. According to the analysis, since the publication of the US inflation report on July 11, this segment has outperformed the other 493 stocks in the S&P 500 by 14 percentage points.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.