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The US stock market is expected to continue its bull run in 2024, with analysts predicting the S&P 500 to reach around 5400 points. The Federal Reserve is expected to initiate rate cuts, which will likely add to the bull run and increase market activity. The communication services sector, including top holdings in the XLC ETF such as Meta, Alphabet, and Netflix, is expected to generate strong earnings growth and contribute to the ETF's upside.
Communication Services sector had a strong performance in 2023, led by stocks like Meta Platforms, Netflix, and Alphabet. The Communication Services Select Sector SPDR Fund has outperformed the S&P 500 Index on a trailing 1-year basis. XLC is a beneficiary of tailwinds in the communication services and digital ad stocks, making it a strong long-term prospect.
For investors seeking momentum, Communication Services Select Sector SPDR ETF XLC is probably on the radar. The fund just hit a 52-week high and is up 48.1% from its 52-week low price of $54.71/share.
Capital markets appear content with playing the rate cut waiting game as the S&P 500 continues to rise to new highs. Meanwhile, renewed volatility could make investors reconsider adding an equal weight strategy to their portfolios.
Bargain hunting in a market where the S&P 500 is at record levels may seem like a daunting task, but it's not impossible.
As Reddit prepares for its stock market debut, industry observers eagerly anticipate the platform's future trajectory and its role in the ever-evolving landscape of social media and technology.
Even if you have not heard of the Magnificent Seven stocks as a group, you likely know the companies. The Magnificent Seven comprises Apple (AAPL), Microsoft (MSFT), Amazon.com (AMZN), Nvidia (NVDA), Meta Platforms (META), Tesla (TSLA), and Alphabet (GOOG/GOOGL).
Look into how Disney heavy ETFs performed after its Q1 earnings.
META shares spiked as much as 14% to a record high in aftermarket hours following its earnings results, pushing its market capitalization by $148 billion to $1.16 trillion.
Alphabet (GOOGL) reported its fourth-quarter 2023 earnings results beating Zacks Consensus Estimates for both revenue and earnings. Look into how Alphabet-heavy ETFs are affected.