Since mid-June low, the S&P 500 is up 13% as investors bet pessimism, in the wake of surging inflation and tighter central bank monetary policy, was overdone.
U.S. stock futures rose on Monday as investors continued to shrug off the prospects for faster Fed tightening amid hopes a strong labor market signals the U.S. economy remains healthy.
What’s driving markets Firmer equity index futures point to Wall Street challenging its highest levels in more than two months. Since hitting its 2022 low in mid June, the S&P 500 is up 13% after investors made bets that pessimism over corporate prospects, in the wake of surging inflation and tighter central bank monetary policy, was overdone.
“While it was all too easy for some to mock efforts to downplay the first half ‘recession,’ Friday’s payrolls print put the shoe on the other foot,” said analysts at Jefferies in a weekend note. And the benchmark index now is also eyeing resistance at the 4,200 level, and if that is breached then the 200-day moving average looms into view.
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