Barron’s: “The Dow’s Big Rally Was Scary. And Not in a Good Way.”By admin_45 in IN THE NEWS
Excerpt from Barron's quoting DataTrek's Nick Colas:
.... "Credit for the rally could be given to headlines about trade—the U.S. might not raise tariffs on Mexico on June 10, after all—and hopes that the Federal Reserve will cut interest rates, even if those hopes were fueled by disappointing economic data such as this past Friday’s payrolls report. But, as Nicholas Colas, co-founder of DataTrek Research, noted after the S&P 500’s 2.1% rise last Tuesday, “happy markets don’t surge 2% in a day. Worried markets do.”
That was certainly the case back in November, which preceded a very bad December. It’s hard to see an imminent repeat of December’s market slide, however, as the latest advance didn’t attract as much buying"....
Read the full article here in Barron's!