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Wall Street Remains Bullish Despite Data
NEW YORK (AP) -- With all the predicaments facing the markets these days -- credit growing scarcer, oil near a record $90 a barrel, home prices in the dumps -- it would be logical if investors were shoving money under their mattresses, instead of into stocks.
But logic doesn't always prevail on Wall Street.
Q4 GDP Tracking: Mid 2% Range
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Fed Chair Powell, Nov 7, 2024:
"It's actually remarkable how strong the U.S. economy is performing. We're
performing better than all of our global peers. ...
3 hours ago
2 comments:
When I read this kind of "news" It reinforces my belief that the big money that moves the stock market is largely separate from the economy I face - or perhaps I should say that the big money is still able to function as though it can exist in a reality separate from than that faced by the bulk of the populace. As the disparity between these economies grows the open question is how long such a condition can exist. Maybe we really do have two separate economies that can coexist, but I wouldn't bet on it.
Why is it that most crashes start with a parabola? You'd think that after the dotcom bubble, people wouldn't be so willing to embrace the parabolas and the "sure" things.
I'm not sure of anything. Is China now a one-way bet that only goes up? Is our dollar a one-way bet that only goes down? I wouldn't bet on the obvious and expect to make money. The market seems to have an uncanny ability to eventually destroy the obvious one-way bets, and has a long standing history of doing just that.
Just my two cents. If I knew for sure where things were heading next I'd be in the casino with everyone else.
Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected. - George Soros
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