Oppenheimer Predicts Market Top May Not Develop Until 2025
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#c35816a8 ver:0.75
The S&P 500 hit a wall at the end of its best week in 2024, with the market still notching its best week in 2024 amid speculation that the Federal Reserve will be able to cut interest rates as soon as June. The gauge climbed more than 2% over the week, driven by a record-breaking run that has pushed the S&P 500 up about 10% this year. However, U.S. equities wavered, and there are calls for a consolidation or a pullback after the market's resilience. U.S. equity funds suffered redemptions of about $22 billion in the week through Wednesday, the largest outflow since December 2022. This was a sharp turnaround from the previous week when stocks had attracted record inflows. Despite still elevated rates, recent housing, manufacturing, and labor-market data pointed to a resilient economy. The be...
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