Major equity markets across the globe have rallied strongly this year. In the U.S., the smallcap, the Russell 2000 index had been notably divergent but has rallied strongly in April. The S&P and NASDAQ have both closed March above their December highs and are also started April on a strong note. No doubt, these indexes are buoyed by animal spirits surrounding numerous major completed and planned IPOs, including Lyft, Pinterest, and Uber.
Performance of Major Stock Indexes YTD 2019
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During this time, markets have shaken off external events including ongoing political instability across the globe, the continued specter of regulation of Big Tech in the US, and concerns about earnings growth. Given this, markets may be at another tipping point/phase transition, this time poised to shoot higher past all-time highs. It would not be a surprise to see prices in the range of 3100 in the S&P 500 over the next year.
Any opinions or forecasts contained herein reflect the personal and subjective judgments and assumptions of the author only. There can be no assurance that developments will transpire as forecasted and actual results will be different. The accuracy of data is not guaranteed but represents the author’s best judgment and can be derived from a variety of sources. The information is subject to change at any time without notice.