For investors seeking momentum, iShares Core S&P 500 ETF IVV is probably on the radar. The fund just hit a 52-week high and is up 26% from its 52-week low of $485.19 per share.
“Monday morning's action was suggesting that a ‘head and shoulder' topping pattern was in place, but that was not the case at the close of that day's trading (which is why we emphasize closes).
The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the “Neutral” zone on Friday.
The S&P 500 ended lower on Friday after setting fresh intraday records earlier in the session, as investors took profits following a strong week. Despite the pullback, major US indexes notched their second consecutive weekly gains, signaling renewed optimism in the markets.
Investors may be feeling the emotional ups and downs as the markets wrestle with uncertainty, even while the VIX suggests volatility is low.
Existing Home Sales increased by 2.2% month-over-month in December, beating analyst expectations.
The S&P 500 has been on a tear lately, gaining 25.68% over the past year. The SPDR S&P 500 ETF Trust SPY, which tracks the index, came in just behind with a rise of 25.62%.
Wall Street looked set to kick off Friday on the back foot ahead of purchasing managers index data later in the day. Futures had the Dow Jones, S&P 500 and Nasdaq all off by 0.1% ahead of Friday's opening bell.
The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index moved to the “Neutral” zone on Thursday.
Barbara Doran, BD8 Capital Partners CIO, and Bob Doll, Crossmark Global Investments CEO & CIO, join 'Closing Bell Overtime' to talk the day's record market action.
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Are stocks doomed for the rest of the year?