The SPY (S&P 500) ETF has surged with a nine-day winning streak, marking its longest stretch to a new high since 2020. Despite economic concerns signaled by the Citi US economic surprise index, the S&P 500 approaches record highs. In a surprising twist, bad news appears to be driving market optimism, with Goldman earnings estimates slightly below consensus.
- The SPY (S&P 500) ETF achieves its longest winning streak since 2020, rallying to new highs.
- The S&P 500 edges closer to record highs even as the Citi US economic surprise index declines, indicating economic concerns.
- Surprisingly, the market seems to interpret bad news as good news, fueling optimism despite underlying economic worries.
- Goldman earnings estimates come in slightly below consensus, yet the market remains buoyant.
The SPY (S&P 500) ETF has been up nine days in a row. That's the longest win streak to a new high since 2020: pic.twitter.com/hkXgS9f1BG
— Mac10 (@SuburbanDrone) May 14, 2024
🇺🇸 S&P 500 near record highs as the Citi US economic surprise index falls.
Bad news is good news.
Chart: @Bloomberg pic.twitter.com/9xsyPl3HSk
— Alex Joosten (@joosteninvestor) May 15, 2024
Goldman earnings estimates a little below concensus pic.twitter.com/CMuFh6BVna
— Win Smart, CFA (@WinfieldSmart) May 14, 2024
The collapse of San Francisco commercial real estate continues.
Google has announced they won't renew their lease next year on 300,000 sq ft on the San Francisco waterfront tower.
With more and more people working remote, Google is shrinking it's footprint and consolidating… pic.twitter.com/BOM12MHDJE
— Wall Street Silver (@WallStreetSilv) May 14, 2024