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Sam Stovall on the Year-End Rally, Millennium Wins by Not Losing, CVS Gets an Activist

The Compound and Friends

NOTE

Market Reflections Reveal Underlying Trends

Recent indicators show a significant recovery in the S&P 500, suggesting that many stocks are outperforming the index, creating a favorable sentiment for investors. The market appears to be pricing in optimism regarding lower interest rates and stronger future earnings. However, there remains an unexpected element: the lack of enthusiasm reflected in the substantial outflows from the MSCI China ETF, signaling that investors may not yet be fully capitalizing on these market trends despite recent gains.

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