These five Wall Street veterans have 230 years of combined experience. Here’s why they are bearish on stocks

Investors are increasingly worried about the risk of a U.S. recession, following last month’s banking crisis and as more data points to slowing economic growth.

Still, the stock market has rallied so far this year, with the Dow Jones Industrial Average DJIA up 2.2% and the S&P 500 SPX up 7.7%. The Nasdaq Composite COMP , which has led the rally, gained 15.6% year-to-date, according to FactSet data. Richard Bernstein, chief executive at Richard Bernstein Advisors, said the rally in risk assets so far this year is “not a fundamental one.”

“We haven’t had the markets discounting an economy going into a recession,” according to Farrell. Even many investors on the bearish side feel that there will be one leg down to buy, and “I think good bottoms aren’t made that way,” Farrell said. “Good bottoms are made when you are afraid to buy, when they’re pretty, pretty bad.”

Gary Shilling, president of A. Gary Shilling & Co., echoed the point. “We’ve been very definitely in a risk-off investment stance since May last year,” Shilling said. His firm has been shorting crypto and long Treasury debt, according to Shilling. In fact, the U.S. is already in a profits recession, with earnings growth being negative, according to Bernstein. The deeper the profits recession, the more likely a economic recession will come, noted Bernstein.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Wall Street rallies and tech stocks leap as inflation coolsA rally on Wall Street lifted stocks to their highest level in almost two months following the latest sign that inflation continues to cool. The S&P 500 rose 1.3% Thursday after a report showed inflation at the wholesale level slowed last month by more than expected. The Dow was up over 380 points, while the Nasdaq composite led the market on hopes slower inflation could lead the Federal Reserve to take it easier on interest rates. A separate report showed slightly more workers applied for unemployment benefits last week than expected, though the job market remains solid. ? 'damnit my 401k is doing good' some Trumper, probably Thanks president Biden, or does he only get the blame when the market goes down
Bron: AP - 🏆 728. / 51 Lees verder »

Wall Street Has Netflix Password-Sharing in Focus Ahead of Next Earnings ReportAfter increased search activity for the term “cancel Netflix” in Canada in February and investor concerns about user losses over a crackdown, more recent reports have suggested that these trends could have been fairly short-lived.
Bron: THR - 🏆 411. / 53 Lees verder »