2 Momentum Anomaly Picks as Solid Earnings Boost Markets
AROCArchrock(AROC) ZACKS·2024-10-17 21:40

The broader U.S. equity markets witnessed a roller-coaster ride over the past few trading days hitting record highs on strong quarterly performance from hitherto reported companies before falling the next day only to rise again to a new record-high tally. This uptrend was fueled by cooling inflation and solid economic metrics that calmed investor nerves that the Federal Reserve was cutting rates aggressively because of a potential slowdown.With solid labor market conditions, the economy appears to be back o ...