S&P 500 Breaks 7000 ATH For First Time And The Reason Why Is Insane
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Ok, not that insane… it’s AI
This week the S&P, all 500 of them decided that you know what? I think it’s about time to top 7000 points, yeah? Yeah, let’s do it.
But then it bounced back to basically normal so it’s basically like it didn’t happen.
Here’s some numbers for you you nerd: The broad market index ended the day down 0.01% at 6,978.03. Earlier, the S&P 500 was up 0.3% on the day, hitting an all-time intraday high of 7,002.28. The Dow Jones Industrial Average added 12.19 points, or 0.02%, to close at 49,015.60. The Nasdaq Composite outperformed and gained 0.17%, settling at 23,857.45.
People think the main reason for the boost is that is buoying up the economy with massive growth in the tech sector.
Now the ball’s in the Fed’s court with their setting of the interest rates and what not.
Powell spoke up in response to the news saying, “I think, and many of my colleagues think, it’s hard to look at the incoming data and say the policy is significantly restrictive at this time.”
Geezzz booooriing, get a room grandpa, learn to drive granddad, buy a car and learn to drive you racist.
Ok, fine, so the Fed’s not going to do anything until Powell’s out probably which means that the ball’s actually in Trump’s court.
Who’s he going to pick? Who’s it going to be? Who-who-who-who-whooooo??
A lot is up in the air is the point.
But hey, S&P 500 7000 is great news, mixed bag what with interest rates and the weak dollar, but then gold’s good, so who’s to say?
Man, this whole economics stuff is hard, huh?
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