Investors are observing the U.S. stock market’s assault on fresh record highs with a certain measure of unease—and perhaps for a good reason.
Set against the expectations of trillions of dollars of further government aid spending championed by the Biden administration, it is no wonder that pockets of euphoria amid superlow interest rates have materialized. “You wouldn’t know it from the sedate action in the averages” Cramer said, adding that the stock market is on “a highway to the danger zone.”
A couple of weeks ago, the market was gripped with genuine fear that a downturn might be at hand, spurred by a collective uprising from individual investors and powered by social-media platforms Reddit and Discord, but the market has powered back after momentarily losing grip on year-to-date gains. Thomas Lee of Fundstrat Global Advisors, told CNBC on Thursday, during the business networks “Halftime Report,” said that he’s not seeing signs of euphoria and, while pockets of excess are prevalent in “meme” trading trends and in pot stocks, they are not suggestive of inflated values throughout the system.
At the end of the day, maintaining a prudent investing stance is the best way to approach these or any markets.
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