The View from 5th Avenue

The View from 5th Avenue – 8 January 2024

All major US indices finished in the green after a wobbly open, as equities surged back. The SPX index extended its gains (largest rally since 11/14), reaching a session high over +1%, while the CCMP index extended gains to a high over +2% coming off the heels of last week’s losses. At a glance, the diagonal pattern of the main indexes seem to reflect program buying. The BM7P INDEX (Magnificent 7 Index, finished +2.36%) as tech led the rally, making the sector the best performing of the 11 vert…

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