(Bloomberg) — The S&P 500\u2019s rally to record highs has brought it within striking distance of a sell signal, according to Bank of America Corp.\u2019s Michael Hartnett.<\/p>\n
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The strategist recommended investors start offloading shares once the benchmark rises above 6,300 points \u2014 just 0.3% above its Thursday close. He also reiterated that bubble risks were rising into the summer, with the House passing a $3.4 trillion fiscal package that cuts taxes.<\/p>\n
\u201cOverbought markets can stay overbought as greed is harder to conquer than fear,\u201d Hartnett wrote in a note.<\/p>\n
US stocks have soared back to all-time highs on signs that the US economy is staying resilient as President Donald Trump softened his approach on tariffs. That\u2019s ignited some speculative fever in the market, with technology heavyweights back in vogue and the buzz around artificial intelligence returning.<\/p>\n
Still, trade concerns remain center stage with Trump saying his administration would start sending out letters to trading partners on Friday setting unilateral tariff rates.<\/p>\n
US stock futures fell Friday morning. Cash trading is closed for the Independence Day holiday.<\/p>\n
–With assistance from Michael Msika.<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — The S&P 500\u2019s rally to record highs has brought it within striking distance of a sell…\n","protected":false},"author":3,"featured_media":37673,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[21866,3638,64,135,30541,5005,30542,67,132,68],"class_list":{"0":"post-37672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bank-of-america","9":"tag-bloomberg","10":"tag-business","11":"tag-markets","12":"tag-michael-hartnett","13":"tag-president-donald-trump","14":"tag-striking-distance","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114794189468042151","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/37672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=37672"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/37672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/37673"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=37672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=37672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=37672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}