Stock Markets Today: Magnificent Seven, S&P 500, Bitcoin, Crypto, Inflation – Bloomberg

Stock Markets Today: Magnificent Seven, S&P 500, Bitcoin, Crypto, Inflation – Bloomberg

Spread the love

Good morning. The booming US stock market is making some people nervous, but maybe the Magnificent Seven aren’t so expensive after all. Plus, there’s a big bet riding on market calm and unstoppable crypto markets may score a win in London. Here’s what people are talking about. — Sofia Horta e Costa

Want to receive this newsletter in Spanish? Sign up to get the Five Things: Spanish Edition newsletter.

There’s so much debate over whether the US stock market is overheating that my colleagues Alexandra Semenova and Matt Turner dug into the data to see what the evidence suggests. Some of their charts may dispel concerns of a bubble forming, namely one showing an equal-weighted version of the S&P 500 just hit a record — an indication that the rally isn’t as concentrated as feared. JPMorgan’s strategy team has also weighed in, noting that the so-called Magnificent Seven stocks — a group that includes Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia and Tesla — are actually cheaper relative to the market than they were five years ago. Morgan Stanley’s Michael Wilson, who has been a bearish voice on Wall Street, says the burden is now on improving earnings to support the gains in stocks. Meanwhile, the team at Barclays says investors should consider selling US government bonds after an “excessive” rally. S&P 500 futures are about 0.4% lower as I type, while Treasuries are flat.

Tags
,

Related News

scapesmania-integrates-casual-gaming-with-blockchain-technology-–-cryptopotato
mike-tyson-joins-boxing-blockchain-project-–-crypto.news
telegram’s-sticker-and-emoji-nfts-to-debut-on-ton-blockchain-–-crypto-briefing