The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Assemble a list of the most newsworthy trends in recent weeks and you might be startled by what looks like a wonderfully bullish backdrop for equities.
Assemble a list of the most newsworthy trends in recent weeks and you might be startled by what looks like a wonderfully bullish backdrop for equities.
(George Doyle/Getty Images)

Stock market faces its next challenge: Good news

Good news is breaking out just about everywhere you look these days – and the best part is that the stock market isn’t taking much notice yet.

Sure, the S&P 500 touched a record high earlier this month and is up more than 19 per cent this year, implying that the mood is at least somewhat upbeat.

But you don’t get the sense that euphoria has broken out. Consider that over the past four months, the benchmark index has gained less than 2 per cent, reflecting some caution on the part of investors.