Why is Wall Street cheery all of a sudden? | CNN Business

It’s only early January, but so far in 2023 the pendulum on Wall Street has swung from sadness to euphoria. Stocks are off to a solid start following last year’s dismal performance. The Dow, S&P 500 and Nasdaq all rallied again Monday and each index is up between 2% and 3% since the start of the new year.

There’s another possibility that bulls are clinging to as well: that there will be a recession, but a mild one that also just so happens to be one of the most widely expected and telegraphed downturns in recent memory. This isn’t a proverbial black swan. There is no “Lehman moment” to catch everyone off guard. As long as the Fed can get inflation under control, investors might not be too concerned by a recession anyway. At least, that’s the ‘glass is half full’ argument.

Wall Street's optimism is like a bad joke: people think the good news is bad and the bad news is good. That's why they call it a 'street'. FunnyMoney

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