New intraday high for the S&P 500
We traded at 7,830 points today, up 14% YTD. Another strong year so far for stock investors.
But the rally is being driven largely by a handful of tech stocks, with $NVDA leading the charge. If you’re invested in consumer stocks, it’s a very different story. Companies like PepsiCo, McDonald’s, and Procter & Gamble are dealing with weaker demand and ongoing cost pressure.
So the big question now: Will we see 8,000 points this year? We’re not far away and my guess is that the probability is above 50%.
HODL, guys, and enjoy the ride.