After Federal Reserve Chair Jerome Powell’s testimony on Tuesday that the central bank is ready to back to more aggressive interest-rate hikes if economic data doesn’t cool off, it would be natural to think that the market prefers to see the data get worse than get better.
First, he says, the S&P 500 index looks overvalued, given the shape of the money market curve. A model using regression analysis finds the S&P 500 more than 5% overvalued, or more than 1.5 standard deviations too high, he says.
Looks like the stock market is full of surprises these days!
So what’s good 🙉it’s the worse news
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Stock market news today: S&P 500 aims for 3rd straight winUS stocks edge higher as Treasury yields slip and investors await Powell testimony
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U.S. stocks open higher as S&P 500 attempts to extend Friday’s gainsU.S. stocks opened higher Monday, with the S&P 500 up slightly, as major indexes attempt to extend sharp gains booked Friday. The Dow Jones Industrial...
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