economy
The market this week completed one of its fastest turnarounds in at least 36 years
Market turnarounds like this rarely happen.
TL;DR
- The S&P 500 moved from near correction territory (down 9%) to an all-time high in just 11 trading days, the fastest such turnaround since at least 1990.
- AI thematic plays in Semis, Media, and Hardware are driving the record-breaking rally.
- Investors are pricing in a resolution to the U.S.-Iran conflict, with President Trump indicating it should end soon.
- Market breadth is showing signs of stalling, with Equal-Weight and Value indices struggling to break through resistance levels.
- The Invesco S&P 500 Equal Weight ETF (RSP) and iShares Russell 1000 Value ETF (IWD) have remained within ranges, failing to break recent highs.
- Stocks rose sharply in early trading Friday after Iran declared the Strait of Hormuz open to commercial traffic, provided a ceasefire holds.