Market Analysis: E-mini S&P 500 Up about 6% Since the Beginning of the Month


Worries about a banking crisis and a recession amid high inflation seem to be a thing of the past. This week, the E-mini S&P 500 returned to its March 2022 levels, having recouped all the losses since the Fed's first rate hike.

According to UBS analysts, the current growth of indices in the stock market is associated with “inflation of greed”. That is, under the guise of rising costs, companies are increasingly raising prices for goods and services, seeking to increase earnings. This increases the profitability of their business and leads to an increase in the value of the shares.

According to FactSet, the latest reporting season was the highest actual performance in 2 years compared to analysts' expectations, with almost 80% of companies reporting first-quarter earnings beat expectations.

The E-mini S&P 500 chart shows the index rising within an ascending channel (shown in blue) that begins in 2022. A week of important news led to a bullish breakout of an important top of last summer, which opens up the prospect of growth to the upper border of the mentioned channel.

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