S&P 500: Eight-week winning streak extends – Deutsche Bank

FXStreet Insights Team FXStreet

Deutsche Bank strategists highlight that the S&P 500 has logged an eighth consecutive weekly gain, supported by falling Oil prices and easing stagflation fears. Futures are modestly higher after the long weekend, though slightly below pre-strike levels. The report notes that US equities advanced despite recent weakness in big tech, with the Magnificent 7 slipping over the week.

US equities supported by lower Oil

"This morning S&P 500 futures are +0.62% and NASDAQ futures +0.85% which is a few tenths of a percent lower than most of yesterday before the overnight strikes."

"That decline in oil prices meant investor fears eased about a stagflationary shock to the global economy, supporting bonds and equities on both sides of the Atlantic."

"In fact, the S&P 500 posted an 8th consecutive weekly advance for the first time since 2023, rising another +0.88% over the week."

"Interestingly, the latest advance took place despite weakness among the big tech stocks, with the Magnificent 7 falling -0.76% last week, ending a run of 7 consecutive weekly gains."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

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FXStreet Insights Team

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