The View from 5th Avenue

The View from 5th Avenue – 26 September 2024

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Yet another all-time high for the S&P500 today (the 42nd so far this year to be exact) and Micron Technology wins the MVP award after a strong beat and raise inspired an all-abroad AI rally that saw the SOX close well into the green (+3.5%). We started the day firmly on the front foot thanks to overnight news of further stimulus out of China (a $142bn injection into the state banks no less) ahead of their weeklong holiday. Oil slid starkly for a second session, spurred by a report from the Fina…