New Web Hosting Pioneer Emerges, Offering Affordable Hosting Solutions Coupled with…The US equity market continued its upward trend, with the S&P500 rising 10.8% in the first quarter, exceeding the historical average gain for a full calendar year. We are even more impressed by the low volatility of the index since the end of January.
It is also important to note that the current rally is becoming increasingly broad-based. The Magnificent Seven are falling apart, with Apple and Tesla clearly suffering, but the growth is encompassing more stocks. The broadest of the popular indices, the Russell 2000, broke out to its highest level since January 2022 on Thursday. However, it has traded in a broad sideways range from April 2022 to February 2024.
The VIX implied volatility index is at levels typical of much of 2018 and 2019, giving no hope of an imminent end to the upside. The entirety of 2017 saw the VIX below current levels, so it would not be fair to call this an anomaly.