The S&P 500 Index has surged nearly 10% since March 27, as Wall Street shifts its focus to corporate earnings and fundamentals, despite the ongoing war in Iraq. The Nasdaq 100 has also risen approximately 12%, marking its longest streak of ten consecutive closing gains since 2021. Doug Peta, Chief U.S. Investment Strategist at BCA Research, noted that corporate fundamentals are now driving stock price movements. Ed Yardeni, a senior strategist, believes the market is adapting to the war's impact and maintains that the S&P 500 reached its bottom on March 30.
S&P 500 Climbs 10% as Earnings Season Shifts Focus from Iraq War
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