WHY IS THE MARKET ADVANCING?
On August 21, the S&P 500 hit a 4-year high. It climbed 3% in the first three weeks of the month following a 1.26% July gain. Across the past four weeks, the index’s total return has been just under 4%.1,2,3 Unexpected? You might say so. You can’t predict how the market will behave. This summer, stocks are managing to advance despite lingering threats. Shouldn’t Wall Street be more pessimistic?