Stock Market Trading Shows Fear of Risk Despite Weeks of Gains

On the surface, it appears that the stock market has been on a tear for the past couple of weeks. Look under the hood, however, and you’ll see that investors are buying but without the enthusiasm that usually marks the start of a major rally.

The S&P 500 Index just posted its best weekly advance since November as investors hope the ceasefire with Iran will hold. The broad US equities benchmark closed in the green for seven consecutive days, its longest winning streak since October when it was on a record-setting spree. And it posted a second straight week of more than 3% gains, something it hasn’t done since 2022, rising 7% in that span.