Attention Economy


Friday, January 19, 2024

A New Record High for US Equities

Stocks Climb to Record, Lifted by Big Tech and Rate Cut Hopes
https://www.nytimes.com/2024/01/19/business/stock-market-record.html
The S&P 500 crossed above its January 2022 peak after weeks of wavering. Investors have been buying stocks after homing in on signals that the Fed’s campaign of raising interest rates is over.

An Optimistic Take:
This Isn’t Your Father’s S&P 500. Don’t Worry About Valuations.
https://www.bloomberg.com/opinion/articles/2024-01-19/s-p-500-don-t-let-valuations-new-record-worry-you
While the onus is on companies to beat earnings projections after the index printed a fresh record, we have the right cohort of companies to get the job done.

Cautionary Takes:
The perils of investing in the world of one trade
https://www.ft.com/content/6037e1e6-1326-4159-94a9-9a1b5130a4fc
Where US interest rates are headed will still be the biggest influence on investment performance

Stocks Are at Record Highs, but Things Will Only Get Harder from Here
https://www.wsj.com/finance/stocks/stocks-are-at-record-highs-but-things-will-only-get-harder-from-here-d528a6dc
Expectations for interest-rate cuts are waning. Some investors say stock gains might be hard-won as a result.


Why Investing for the Long-Run Truly Matters:
The Market Has Had a Fabulous Run, but This Peak Doesn’t Really Matter
https://www.nytimes.com/2024/01/20/business/stock-market-peak-investing.html
Compound returns that grow as stocks rise over the decades are far more important than the latest high, our columnist says.