meant to slow economic activity, slash demand, and dial back inflation.
It hardly sounds like the makings of a stock boom, which relies on investor optimism about the outlook for corporate profits.Over the first half of the year, as the market plummeted and pessimism reigned, investors lowered their expectations, the strategists said. Last month, when the Federal Reserve signaled it would someday ratchet down rate increases and many corporations reported better-than-anticipated earnings, investors saw a reason for a turnabout in sentiment, they added.
"It's not about good or bad," Ryan Detrick, the chief market strategist at Carson Group, told ABC News. "It's about better or worse."Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, said it will prove difficult to keep that fire lit.MORE: Skyrocketing rents pain tenants as inflation rises
But the surge in demand for goods and labor far outpaced supply. COVID-related bottlenecks in China and elsewhere slowed delivery times and infection fears kept workers on the sidelines. In turn, prices and wages skyrocketed, ultimately prompting sky-high inflation that had not only endured for many months but had also gotten worse, even as economic growth slowed and recession fears grew.
It rallied because it’s rigged🤡
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Hello abc. If the experts actually knew what was coming. They wouldn't tell you. Every educated person knows this. Why? Because they wouldn't work for you, they would be very wealthy.
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