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May 18, 2024 | Tech Talk for Saturday May 18th 2024
Don Vialoux
The Bottom Line
The “bulls” regained control of U.S. equity markets last week. S&P 500 Index, Dow Jones Industrial Average and NASDAQ Composite Index broke to all-time highs. Leadership was provided by technology sector: Technology SPDRs (Symbol: XLK) moved above $212.00 to an all-time high. A speculative spike in the “Meme stocks” also contributed to bullish sentiment.
The TSX Composite Index also closed at an all-time high on Friday.
Strength in U.S. and Canadian equity indices once again was surpassed by strength in key international equity index prices and their related Exchange Traded Funds last week. Emerging markets iShares (symbol: EEM) advanced 3.06%, Asia 50 iShares (symbol: AIA) advanced 3.94% and China large cap iShares (symbol: FXI) jumped 5.62%. Europe iShares gained another1.54%, up 8.96% from its low in mid-April.
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Don Vialoux May 18th, 2024
Posted In: Tech Talk
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