It was an interesting time for the best weekly gain for Wall Street since late 2020 as the devastating war in Ukraine grinds toward the one-month mark.
Onto our call of the day, which refutes the idea that some big-name companies are looking like bargains. “In other words, it took a historic and MASSIVE stimulus program to push these stocks to their extreme levels of valuations…and their recent declines have only made them ‘less expensive’…not ‘cheap,” he said.
But with the economy weakening and inflation set to rise, a poor combination for a still expensive stock market, the jury is definitely out on whether last week’s bounce is going to stick, said Maley.
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