If riding a bucking bronco is your idea of fun, youβre going to love what the stock market has in store. Consider this past weekβs ride a preview.The weekβs action didnβt look like much, if you didnβt know better. The Dow Jones Industrial Average rose 213.12 points or 0.6%, while the S&P 500 advanced 0.5%, and the Nasdaq Composite ended little changed.
That growth environment will include rising inflation and interest rates. Those upward shifts naturally accompany healthy growth periods as the demand for resources, products and services rise. Importantly, the Federal Reserve has laid out the rationale for not interfering with that natural growth transition.It's not exactly a fad, but there is a widespread willingness to pay up for a growth story. Classic fundamental analysis takes a back seat. Even negative earnings are ignored. In fact, positive earnings seem to be a limiting measure, producing the question, "Is that all you've got?" The preference is a vision of untold riches when the exciting story plays out as expected.
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