U.S. equities lead the rest of the world because "we deserve it," Fink added on "Fink, co-founder of the world's largest money manager, said on CNBC in mid-April that he thought the global stock rally had further to run.
However, the S&P 500 ended up tanking in May, dropping about 6.6% for the month, as trade talks fell apart with China, and breaking a four-month winning streak. June roared back as the Federal Reserve opened the door for easier monetary policy, with the S&P 500 jumping nearly 7% for its best June performance since 1955.
The comeback continued in July as expectations for a Fed interest rate cut mount at the central bank's July 30-31 policymaking meeting. The S&P 500 was less than 1% away from last week's record close after cracking 3,000 for the first time ever earlier this month.Get this delivered to your inbox, and more info about about our products and services.
The middle class with 401k's will be the ones that get hurt when this market crashes
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Source: CNBC - 🏆 12. / 72 Read more »