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Today's market

March 4, 2024 at 9:15 a.m. EDT

Michael P. Reinking, CFA
Sr. Market Strategist

Last week the S&P 500 ended higher by just under 1%, its 16th positive weekly close in the last 18 weeks, which hasn’t been done since the 1970’s. Last week there was broad participation with the equal weight version of the index slightly outperforming. The Russell 2k ended the week up ~3% closing at its highest level in about 2 years. Similar to the last couple of weeks, markets have gotten off to a slow start ahead of some big potential catalysts in the coming days including testimony by Fed Chair Powell before Congress and the February employment data. As we head to print major indices are mixed though we are still seeing some expansion of breadth. The S&P 500 market cap weighted index is down slightly but the equal weight version of the index is up 0.3%. The Russell 2k is outperforming again today up ~0.5%.

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