There's a huge debate over where US stocks are headed going on right now — and it's a tug-of-war between the hopeful and the glum.
On the other side are those who expect a rude awakening for people with such rosy views of the outlook for stocks. They warn that further central bank tightening, recession risks and weak earnings growth could lead to a plunge.Stock market bullsThe retired Wharton professor and author of"Stocks for the Long Run" stands by his call that stocks will keep rising this year as inflation moderates.
"Investors are punishing misses to a far less extent," he said."Again, highlighting a lot of the bad news of 2023 EPS is getting priced in. This doesn't mean EPS falling is good, but this does show lots are priced in."Ed Yardeni, president of Yardeni Research, so now the only way is up."And I think we're back in a bull market. Not straight up, a lot of volatility, but I think the markets are telling us the world economy is improving.
"My calculations of trendline value of the S&P 500 — adjusted upwards for trendline growth and for expected inflation — is about 3,200 by the end of 2023," he said. He's described the early-2023 bounce back in stocks as a"very whippy and junky, short-covering, bear-market rally."
股市多头和空头之间的预测战正在白热化。杰里米·西格尔（Jeremy Siegel）、迈克尔·伯利（Michael Burry）和其他5人认为，美国股市正朝着这个方向发展。
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