The S&P 500 hit a record intraday high, but trading was light.
TL;DR
The S&P 500 reached a record intraday high with a 0.16% gain, but trading was light as markets assessed labor data for Fed rate clues. Investors are pricing in a soft landing and optimistic earnings growth, suggesting further stock market upside.
Odaily Odaily reports that the S&P 500 hit a record intraday high, rising 0.16%, although trading was light in early trading as the market analyzed labor market data for further clues about the Federal Reserve's interest rate path. The Nasdaq 100 and Dow Jones indices were largely unchanged. Tom Essaye, founder of Sevens Report, stated that as the year-end approaches, investors are firmly pricing in a soft landing for the economy. He believes that with optimistic expectations for strong earnings growth in the coming quarters, the stock market still has room to rise. (Golden Ten)