S&P 500 at Record High, But Timmer Warns of Caution

0:00It's April 24. You're listening to Durham News today, AI-powered local news. The S&P 500 just hit a record high of 7137, but Fidelity strategist Jury and Timmer says don't pop the. Champagne yet? In his latest note, he's warning that this rally bounced back too fast after recent dips, sitting now in the low 7000s and still shaky from. Geo, political, heat. Big tech and AI hype fueled the climb with the magnificent 7 stocks retracing to October Peaks and the index nearly matching its equal way. Version. Earnings expectations are solid at around 13% growth and analysts aren't slashing forecasts like usual, giving the markets some real. Cushion. Oil prices are the wild card though, staying high enough to pinch consumers without even crashing. Timmer compares it to the 1990 Gulf War Shock and the 2022 inflation surge when crew jump from about 79 bucks to $136 in today's dollars, messing with Fed plans and stock valuations.

1:04Early earnings reports back to bull case, like Intel beating with $13.6 billion in first quarter sales and 29 cents. Adjusted earnings per share. Texas Instruments grew sales 19% to 4.83 billion and service now saw subscriptions of 22% to 3. 6.7 billion, all tied to AI demand. Bottom line, it profits keep delivering amid these headwinds, the rally could push higher, but Timmer's calling for caution, watch those moving parts, close before betting big.