Boosted by inflation cooling down significantly, and ongoing strength in the jobs market, economic prognosticators have recently touted the probability of a soft landing for the economy instead of the previously dreaded prospect of a full-blown recession.
Steve Eisman, famous for predicting the housing fiasco of 2008 as told in the Big Short, is amongst those taking that optimistic view. “So far, there’s no evidence of a recession,” Eisman said recently. “So as long as there’s no evidence of recession, I think the market will probably continue to melt up.”
According to Eisman, as long as interest rates don’t rise significantly and investors remain unconcerned about the market’s high valuations, stocks will keep charging ahead. “People are chasing,” he goes on to add. But the question is, what should they be running after in this bullish environment?
That’s where Wall Street analysts come into play. Against this backdrop, we delved into the TipRanks database to…
2023-07-26 09:21:13
Link from finance.yahoo.com