Markets Hit Record Highs But Rally Raises Concerns Over Sustainability
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Markets are on an incredible winning streak, with the S&P 500 hitting record highs and posting its best week in a year. This rally is nearly unprecedented in the last 50 years.
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AI and tech stocks like Nvidia are fueling the market surge. The "Magnificent Seven" tech stocks are up over 13% this year.
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The rally may not be sustainable long-term as it is concentrated in tech and not broad-based. Inflation remains a concern that could lead the Fed to keep rates higher.
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Berkshire Hathaway neared a $1 trillion valuation after a record 2021, but Buffett warned skyrocketing growth is likely over.
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Kellogg's is advertising cereal for dinner to cash-strapped shoppers, sparking backlash over being insensitive to people spending far more on groceries.