Why these analysts say it's 'hard to get too bearish' on the S&P 500
In a note to clients, the analysts said that investors could be facing some"yellow lights" from"recently absolute weakness" in businesses like auto-parts suppliers, restaurants and hotels.
However, they noted that this trend is not likely to weigh on the rest of the S&P 500, partly because of the current narrow breadth of the index. At the moment, the top 10 names in the S&P 500 make up more than 35% of it, a new record high, according to the BTIG analysts. Information technology firms in particular make up much of the largest cohort of the S&P 500, leading the BTIG analysts to conclude that it is difficult to be too negative on the average until these stocks stop climbing.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2024 Indy 500 Blog: Josef Newgarden wins the 108th Running of the Indianapolis 500Heavy rain Sunday morning caused a delay in the start of the 108th Running of the Indy 500.
Read more »
Dow slides 500 points, S&P 500 retreats from record while Nasdaq hits new heightsSamantha Subin is a digital news associate with CNBC.
Read more »
Why it takes NYC nearly 10 years to install 500 feet of pipesWhy it takes NYC nearly 10 years to install 500 feet of pipes
Read more »
2024 Indy 500 Picks, Predictions, and Race PreviewIndy 500 picks, predictions for 2024 Indianapolis 500. Indy 500 best bets for May 26 from Indianapolis Motor Speedway.
Read more »
2024 Indy 500 Picks, Predictions, and Race PreviewIndy 500 picks, predictions for 2024 Indianapolis 500. Indy 500 best bets for May 26 from Indianapolis Motor Speedway.
Read more »
Josef Newgarden wins second straight Indianapolis 500Josef Newgarden won the 2024 Indianapolis 500, becoming the first back-to-back winner in more than 20 years.
Read more »