High-Priced S&P 500 Powers Ahead Untroubled by Political Stress
- Treasury yields, dollar pull back after initial Trump-win bet
- Fed ‘remains dominant factor,’ says Socorro Asset’s Freeman
However tumultuous the backdrop, the rally in risk assets is powering on.
Photographer: Johannes Eisele/AFP/Getty ImagesAdd political turmoil to the long list of outside influences that are failing to thwart the 2024 bull market.
Investor resilience was on display again in a week in which high election drama couldn’t keep the S&P 500 from doing what it’s done in nine of the last 11 weeks: go up, this time in all sessions. Even markets that initially lurched on President Joe Biden’s debate travails, such as Treasuries, calmed appreciably as economic data bolstered the case for rate cuts.