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Nasdaq Hits All-Time Highs

Nasdaq Hits All-Time Highs

March 05, 2024

Last week was another strong one for the stock market, with the Nasdaq pushing through its previous highs set way back in November 2021. The S&P 500 continues to make new highs and the Total World Stock Index is within 1% of all time highs. Bitcoin is also making a strong comeback and in view of its 2021 highs.

Fourth quarter corporate earnings came in better than forecasted and helped to keep the 4-month rally going. This month investors will shift their focus to notable economic news such as the jobs report, monthly inflation numbers, and the March federal reserve meeting. These will be the market moving drivers this month and will determine whether the rally continues unabated or if a pullback is in order. Currently the stock market seems a bit overbought but never underestimate the power of momentum to keep a trend going far longer than expected.

Photograph by: Tim Swaan on Unsplash

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