| The big knock on this year’s stock rally is that it rests on half a dozen companies thriving on hype. That criticism just took a hit.
“Certainly six months ago I expected a recession, but now that’s looking a little bit less likely,” he said. “We’re a little bit more optimistic about the economy than we were three and four months ago. We’ve put a little bit of money to work.”The tech-heavy Nasdaq 100 surged close to 40 per cent in the first half of the year, recouping much of its 2022 losses.
“It’s contributing to the narrative,” said Lauren Goodwin, economist and portfolio strategist at New York Life Investments. “Broadening of economic performance can fuel optimism around broader equity market performance.”
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