You know better than to buy high and sell low. And right now, markets are high. The S&P 500 is near its peak. On Monday, it recorded its 46th all-time high of 2024. The Nasdaq is up 33% from a year ago, the Russell 2000 some 30%.
These records come paired with another reality: Lots of Americans are still parked in cash. A record $6.47 trillion has piled up into US money-market funds, with some $11 billion of that flowing in as recently as last week. But staying in cash is becoming less appealing. Interest rates are going down. Customers of Goldman Sachs’ popular high-yield savings account found that out recently. If money is earning less in savings accounts, where might it go next?
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