SPX gain since Jan 2018 has been dismal 6%. In fact end of August 2019 SPX had the same value as Jan 2018. One can argue the latest rally is a bull rage out of frustration.
Consensus business view is so low that it underestimated 173.3 by over 80 points. Stocks jump but shows gloomy exception in retails and other non essential spendings.
While the S&P 500 churned to a new record high for the week, a broad sampling of name-brand e-commerce upstarts had their shares shredded.
Investors reassess the hope-and-hype business model, causing stocks like GrubHub to plunge
Long-time market bull Edward Yardeni is concerned stocks are getting too expensive. If the S&P 500 forward earnings multiple ticks to 19 or 20, the Yardeni Research president warns a it could spark a “nasty correction.” Right now, the index is at 17. The historic norm is 15 to 16
Currently the market is in a Quantum superposition with both stock rally and financial crisis intertwined. The act of observation (consumer sentiment) decides which superposition should collapse into reality.