The S&P 500 Returns To Record Highs

The Fed's minions hit the news streams hard this past week, with most selling the message that the surge of inflation is mostly transitory and won't require the Fed to start boosting U.S. short-term interest rates before 2024. That message seemed to take hold among investors, with the S&P 500 (Index: SPX) returning to record high levels on the expectation that the outlook will hold. At least for now.

In the meantime, we find the trajectory of the S&P 500 falling well within the range of the latest redzone forecast in the alternative futures chart, which is based on the assumption investors will mostly focus on the upcoming quarter of 2021-Q3 over the next several weeks.

We weren't kidding when we said the Fed's minions were out in force in front of the news media during the past week. Their outsized role in an otherwise slow news week is really apparent in our roundup of market-moving news headlines:

Monday, 21 June 2021

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