Stocks are riding a wave of optimism as U.S. inflation recedes, but there are dangers lurking

July 17, 2023 Mark Paul Cervantes Economy, Inflation, Top News, U.S. Market Comments Off on Stocks are riding a wave of optimism as U.S. inflation recedes, but there are dangers lurking
inflation

As U.S. inflation continues to cool, stocks are riding a wave of optimism.

During the past week, the S&P 500 SPX, 0.05% climbed above 4,500 for the first time in more than 15 months, after both the consumer price index and producer price index data showed cooler-than-expected inflation in June.

Some bulls expect an improved economic outlook to send the S&P 500 to an all-time high later this year. The large-cap equities gauge hit a record close of 4,796.56 in January, 2022, according to Dow Jones market data.

In that camp stands Scott Ladner, chief investment officer at Horizon Investments. “This is increasingly looking like an economy that just can’t get knocked off its footing,” said Ladner in a phone interview.

“We see the nominal GDP coming in the 5% to 7% range this year. And earnings are priced at 0% right now. So we think there’s some room for earnings to catch up,” Ladner said.

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Source: www.marketwatch.com
ENB
Sandstone Group

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