Investors have plenty to feel positive about. Inflation is easing, with the latest data showing an annualized rate of 2.4%, just shy of the Fed’s target by less than half a percentage point. Meanwhile, the stock market continues its bullish run, with the S&P 500 hitting a record high of 5,822 on Friday, marking a 22% year-to-date gain.
The naysayers have, so far, been proven wrong – the economy, at least as far as the stock market is concerned, remains robust. Oppenheimer’s chief investment strategist, John Stoltzfus, echoes this positive sentiment, stating, “The S&P 500’s closing price suggests to us a bull market that persists bolstered by economic resilience supported by business and consumer activity with opportunity for stocks to move higher into year-end… We remain positive on equities.”
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