| The record levels reached by the stock market this week have been tainted by just how marginal the gains have been. The S&P 500 closed at all-time highs three times in a row this week, gaining just over 1% by Friday. The weekly gains now resemble daily gains of yesteryear. In fact, the benchmark index has not had a daily move of more than 1% for more than two months. Still, the stock market is on track for solid monthly and quarterly gains barring a catalyst that may result in a long-awaited pullback.
Several such catalysts, such as sectarian war erupting in Iraq and consequently a sharp rise in oil prices, continued tensions between Ukraine and Russia and the Federal Reserve policy meeting were brushed off by investors in equity markets in the past week...............................................Full Article: Source
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