BREAKINGVIEWS-The un-magnificent 493 can nudge the market higher
The S&P 500 has risen 14% this year despite economic challenges, with concerns over big tech's dominance. However, optimism among blue-chip companies may bolster the market. The S&P 500 hit a new high of 6,664 points on September 19, while the Dow reached an all-time peak on September 22, and the Nasdaq is near its earlier monthly high.
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)
By Sebastian Pellejero
NEW YORK, Sept 23 (Reuters Breakingviews) - The S&P 500’s 14% rise this year defied a creaking labor market, wobbling economic growth and a tariff frenzy. Top-heavy gains for big tech firms are worrisome. Yet a new source of strength may support the rally: rising optimism among the run-of-the-mill blue-chip.
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CONTEXT NEWS
The benchmark S&P 500 index reached 6,664 points on September 19 for a new high. The Dow Jones Industrial Average reached an all-time peak on September 22, while the tech-heavy Nasdaq Composite trades near its top from earlier in the month. (Editing by Jonathan Guilford; Production by Maya Nandhini)
