April 29, 2024

S&P 500 Breaks Losing Streak

Latest Publications S&P 500 Breaks Losing Streak

Positive Earnings Momentum Improves Sentiment

U.S. stocks rebounded last week, with the S&P 500 ending a three-week losing streak amid well received Big Tech earnings, including four of the Magnificent Seven tech megacaps. Positive earnings growth momentum helped ease mounting inflation concerns and weak early April PMI readings that showed a reduction in orders for the first time in six months. Investor sentiment also improved as worries over a wider Middle East conflict eased.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.