Shesa's Weekend Stock Market Updates - 4|18|26
Welcome to my weekend updates Last week the stock market had a huge run. A couple of weeks ago, Nadaq and S&P were in the correction territory and all of a sudden we saw a turnaround. Both Nasdaq and S&P 500 hit new all-time high last week. On Friday, the S&P 500 closed above 7,100 for the first time, Nasdaq posts longest 13th consecutive win streak since 1992 . The turnaround in the market surprised most of the investors and traders alike! It was too much too fast from negative to positive sentiment. Why did it happen? I will share my view later. Let's a take a look to the indexes: S&P 500 hit new record at 7,126, up +4.5% for the week. Nasdaq, up +6.8% to 24,468. DOW closed at 49,447. The Russel 2000 Small Cap Index is up about 12% year to date beating all other indexes. What caused this rally? Easing Iran tensions (Strait of Hormuz reopened, ceasefire hopes) sent oil price sharply lower. Producer Price Index ( PPI ) for March rose ju...