2 Stocks to Buy as the S&P 500 Enters a New Bull Market
The S&P 500 officially entered a new bull market on Thursday. The tech-heavy Nasdaq began its new bull run back in May. Both indexes surged off their lows as Wall Street looked ahead to cooling inflation, the end of Fed tightening, and a return to earnings growth in 2024.
In the forward-looking world of Wall Street, most of these bullish support factors remain in place. That said, the market will get key updates on interest rates and inflation next week in the form of the Feds FOMC meeting and Mays CPI release.
If inflation keeps cooling and the Fed pauses, the market could be ready to push even higher during the historically quiet and low-volume summer months on Wall Street. And the way the market looks right now, investors dont seem too concerned about inflation or the possibility of higher rates.
Image Source: Zacks Investment Research
On top of that, there are signs that investors are starting to buy stocks outside of mega-cap tech. Once other sectors start to climb, then Wall Street might be looking even better.