Lately, the higher the Standard & Poor’s 500 Index goes, the less investors care.
Investors are losing their nerve in the stock market amid selling that has sent some industries down the most since 2008. In the past, that’s been a signal to buy.
The Standard & Poor’s 500 Index rose to a record, after erasing an early loss, as the Institute for Supply Management twice corrected the reading in its May manufacturing index.
Commodity stocks, lagging behind the Standard & Poor’s 500 Index by the most in 15 years, are poised to rally as analysts estimate profits will rise almost twice as fast as the rest of U.S. industry in 2014.
In the middle of earnings season, investors are becoming less concerned about earnings growth.
The first three Wall Street strategists to make forecasts for 2013 agree that the Standard & Poor’s 500 Index will reach an all-time high following five years without a record.
"It seems that geopolitics are weighing a little heavier."
- Hayes Miller on Sep 12, 2014