MARKET DAILY

Market 12/18: Stock market surges with high concentration risk

Dow Jones and S&P 500 hit new highs in 2023. Tensions in the Red Sea push oil prices up again. 30Y mortgage rate drops below 7% for the first time in 4 months.

Investors became excited last week after Fed expected to implement 3 rate cuts in 2024, amid declining inflation.

Dow Jones has continuously hit new all-time highs for 11 years, surpassing the 1989-2000 period.

Over 60% of S&P 500 stocks hit new highs in 20 days.

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