Stock strategists say there's a good chance for a Santa Claus rally next month, but the market may not be handing out many gifts to investors in the first part of next year. Some strategists see a bottoming for stocks in the first part of 2023, but others say the key indexes could avoid breaking down to a new low but remain volatile. The S & P 500 rose back above 4,000 Tuesday and was holding above that level on Wednesday. Its recent intraday low of 3,491.58 was set on Oct. 13.
" Stovall was referring to the steep inversion of the Treasury yield curve, meaning that short-end rates, like the 2-year Treasury yield, are well above the longer term, like the 10-year. That is viewed as a recession warning. With the 10-year at about 3.73% Wednesday, that so-called inversion was more than 75 basis points. A basis point equals 0.01 of a percentage point.
Why wouldn’t everyone just front-run it then? This latest rally smells like BS to me. The market is more overvalued today than it was this time last year!
Yeah, 2023 is crypto year baby. Bye bye Wallstreet vultures, its time to get rekt
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Source: CNBC - 🏆 12. / 72 Read more »