Don’t Be Fooled by Daily Drama. The Stock Market Is in a Rut.
- Market is ‘trapped in a range,’ says iCapital’s Amoroso
- Reflects markets-wide holding pattern with the outlook unclear
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It might not exactly feel like it, but the stock market has been, well, kind of boring.
The choppiness and seemingly constant mid-session about-faces are obscuring the bigger picture: the S&P 500 has been vacillating within a roughly 100-point range over the past two weeks. It has stayed above 4,050 since the end of May and pushed over 4,160 earlier in the week, a level it’s had difficulty sustaining. It was around 4,117 on Wednesday afternoon in New York.