Why is Wall Street cheery all of a sudden? | CNN Business

It’s only early January, but so far in 2023 the pendulum on Wall Street has swung from sadness to euphoria. Stocks are off to a solid start following last year’s dismal performance. The Dow, S&P 500 and Nasdaq all rallied again Monday and each index is up between 2% and 3% since the start of the new year.

There’s another possibility that bulls are clinging to as well: that there will be a recession, but a mild one that also just so happens to be one of the most widely expected and telegraphed downturns in recent memory. This isn’t a proverbial black swan. There is no “Lehman moment” to catch everyone off guard. As long as the Fed can get inflation under control, investors might not be too concerned by a recession anyway. At least, that’s the ‘glass is half full’ argument.

Wall Street's optimism is like a bad joke: people think the good news is bad and the bad news is good. That's why they call it a 'street'. FunnyMoney

Ever wondered

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Top Wall Street analysts pick these stocks to celebrate the new yearTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Apple and Bumble. Apple 🍎 is rotten to the core!
Source: CNBC - 🏆 12. / 72 Read more »

Bernard Kalb, founding CNN 'Reliable Sources' anchor, dies at 100 | CNN BusinessBernard Kalb, the long-time journalist and founding anchor of CNN’s “Reliable Sources” program, died on Sunday at his home in North Bethesda, Maryland, his family said. He was 100. RIP This might be the most honest post has posted in quite some time. CONGRATULATIONS! For posting an obituary. Power of Banana shares our deepest condolences. May he have access to an abundance of bananas in heaven
Source: CNN - 🏆 4. / 95 Read more »