On December 28th, US stocks were already at record highs, with the S&P 500 index only about 1% away from breaking the 7,000 mark for the first time, poised for its eighth consecutive month of gains, which would be the longest monthly winning streak since 2017-2018. "Momentum is clearly on the bulls' side," said Paul Nolte, senior wealth advisor at Murphy & Sylvest Wealth Management. "Unless there are unforeseen external events, I believe the path of least resistance for the stock market remains upward." The Federal Reserve meeting minutes will be the focus of market attention next week, with investors closely watching when the Fed might further cut interest rates.
Investors are awaiting President Trump's nomination of a new Federal Reserve chairman to replace Jerome Powell, and any hints from Trump could significantly impact market movements next week. The S&P 500 has risen nearly 18% this year, while the Nasdaq has gained 22%. However, the technology sector, a major driver of this bull market, has recently struggled, while other sectors have performed strongly. Anthony Sagrimbene, chief market strategist at Ameriprise Financial, stated that these market movements indicate funds are rotating towards sectors with more moderate valuations. (Jinshi)
