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Market breadth is driving the current rally in stocks – strategist

Invesco strategist Brian Levitt told CNBC the current U.S. equity rally is being driven by broad market breadth rather than just mega-cap technology stocks. Strength is showing up across emerging markets, mid-caps, cyclicals and small-caps, backed by solid earnings and stable credit conditions. Despite geopolitical friction (Iran) and shifting rate expectations, contained inflation and steady credit spreads support a bullish outlook and reduce concentration risk in the S&P 500. The S&P 500 was trading higher (about +0.9%), reflecting wider participation that could help sustain the rally beyond a narrow tech-led advance.

Category

US 500

Sentiment

Bullish

Event

Market commentary

Reading time

1 min