Political views on potential policy changes have kept bullishness from strong fundamentals in check, with traders keeping markets within a tight range as the end of the first quarter nears.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were up 0.1% Wednesday.
Analysts expect the market to remain range bound as the highly anticipated tax reform bill is set for an August review and the markets get ready for the next earnings season, reports Yashaswini Swamynathan for Reuters.
“We’re going to be fairly range-bound as we get to the earnings season or until there is some significant development on tax reforms,” Michael Scanlon, portfolio manager at Manulife Asset Management, told Reuters.