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Renewed investor worries sprang up Wednesday over the threat of future interest rate hikes, sparked by stronger-than-expected economic data and price reports.
By David Royer
Renewed investor worries sprang up Wednesday over the threat of future interest rate hikes, sparked by stronger-than-expected economic data and price reports.
By David Royer
U.S. President Joe Biden’s strategy of backing politically crucial unions while avoiding strikes that cripple the economy has hit a bump in Detroit.
There’s around $1 trillion of private debt that’s headed for potential trouble, Bank of America warned. Most of that debt has been created by below-investment grade companies through high yield loans or bonds. Around $400 billion assets are considered to be in “pre-distress,” while $150 billion assets are “deeply distressed.”
John Hussman, an asset-bubble expert, forecasts the ongoing rally in US stocks will “end in tears.” The S&P 500 risks a 64% collapse given extreme valuations and “unfavourable market internals,” he said. Here are the long-time market bear’s six most striking quotes from a recent note.
Even though the stock market has climbed its way back into bull-market territory, don’t forget: Several factors could easily send it lower. At just over 4300, the S&P 500 is now about 20% above 3577, the lowest closing price seen in the recent bear market. That level, reached in early October, left stocks 25% below the record high hit in early 2022. A gain of 20% from a low technically marks the start of a new bull market, which matches a recent surge of optimism. A Barron’s cover story this
By David Royer
“With the S&P 500 rally now crossing the 20% threshold, more are declaring the bear market officially over. We respectfully disagree,” Mike Wilson wrote Monday, arguing corporate earnings are set to fall.
Dallas, TX
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