The stock market keeps setting new highs in a rally no one saw coming

  • 📰 CNBC
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Nearly everyone on Wall Street underestimated the strength of this year’s stock market.

"I don't think you can blame people for being a bit cautious or skeptical," said Sam Stovall, chief investment strategist at CFRA Research. "If anything, earnings growth for this year has come down, and earnings expectations for next year have come down."

"You do wonder what is causing the market to go higher. One [factor] is that the lack of alternatives continues," Stovall said, citing the "TINA" belief that There Is No Alternative to U.S. stocks. On the other side, though, are strategists including Piper Jaffray's Craig Johnson, who has been one of Wall Street's biggest bulls for years and holds a 3,125 target for the S&P 500. Though directionally right about the market's moves, Johnson said "we weren't perfect all along" in terms of timing, and he understands the skepticism about valuation.

"There's worry that we are going to be disappointed by the trade issue, economic data and earnings," said Quincy Krosby, chief market strategist at Prudential Financial. "Nothing stays the same forever. We've started to see an easing in all of the above. It doesn't mean that's the perfect scenario for the market, but it is perfect enough to get volume and breadth beginning to pick up."that had shot up during the summer have been tamed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Thats bcos market is a zero some game. Someone has to loose so some one else can make money. 95% has to loose so the 5% can become neo-rich.

Let go of your ego and be a follower of the trend... until the music stops. Then everybody out of the pool...

Not wesbury. Brian has been talking about market strength for a long time. Check out his tweets if you don't believe me.

Haha lol And I thought u guys knew what u were talking about

Huh? The markets have gone nowhere last 18 months, I expect a breakout DOW 30k in the coming months with the typical dips, there’s no logical reason for the markets to sell off at this juncture..

Strength?what strength?that shitty potus playing the mkts like a bi*ch and fueling more trouble for future.....literally effing USA left right....enjoy

Yes, but not everyone.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

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.

Stocks gain on trade hopes, risk appetite lifts dollarThe dollar strengthened and global stock markets rallied on Monday on signs the ... It goes up and down and nothing bad will ever happen..... we do this to ourselves 🎵🎶The party's over....🎵🎶 When others are fearful, I am greedy, when others are greedy, I am fearful.... The Oracle of Omaha (paraphrased)
Source: Reuters - 🏆 2. / 97 Read more »

European stocks seen higher on renewed trade optimismEuropean stocks were seen opening higher Monday as renewed optimism over U.S.-China trade talks looked set to reignite a risk-on approach from investors. these people hate the constitution.....and they hate brexit
Source: CNBC - 🏆 12. / 72 Read more »

The Pot Industry Is Scrambling for CashA sharp drop in their stock-market valuations will have an outsize impact on cannabis companies.
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Hits Another Record High, As Recession Fears EaseThe Dow broke a previous record high set in July.
Source: Forbes - 🏆 394. / 53 Read more »