The bull narrative is running up against reality. If this weak global economic growth stays with us, it means stocks are pricey at this level.
So much for the rally. On Thursday, the S&P 500 got within 2.4 percent of its historic high only to tumble on Friday. We got mugged by slower global growth again.
While we do have a dovish Fed, that factor is now priced into the market. The president has made clear there may be no immediate reduction in tariffs, and the European manufacturing data — particularly Germany — was so bad that 10 year bond yields over there went to zero. So, the bull narrative is running up against reality. If this weak global economic growth narrative stays with us, it means stocks are pricey at this level.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Auto stocks fall after BMW warns of global economic slowdown, trade troubleBMW executives said the industry faces a fiercely competitive environment, dogged by questions about how tariffs and trade tension between the U.S., China and Europe could affect supply chains, manufacturing and sales.
Read more »
Three stocks to hedge against an economic slowdownThe U.S. economy could be slowing down, but RDM Financial Group's Ron Weiner has three sector picks that could weather any trouble ahead.
Read more »
Stocks under pressure | Fed's rate decision set | FedEx warns of global slowdownFutures are pointing to a slightly lower Wall Street open, but with a Fed policy statement ahead and headline risk surrounding China trade talks, another volatile day could be ahead.
Read more »
Why stock markets across the globe are rallying at the same timeMajor global markets are enjoying a boomlet in the first three months of 2019, underpinned at least in part by central banks of developed countries that have expressed reluctance to unwind easy-money monetary policies that have become a feature of global economies in the aftermath of the 2008-2009 financial crisis.
Read more »
Saudi Arabia's stock exchange makes its debut on global emerging markets indexesThe inclusion marks a continuation of efforts by the Saudi kingdom to open up its market to international investors.
Read more »
Oil prices pressured by economic slowdown, but OPEC cuts supportOil prices were on Wednesday weighed down by economic growth concerns that dampe...
Read more »
Oil slips on economic slowdown, but OPEC-led cuts still supportOil prices dipped on Monday amid concerns that an economic downturn may dent fue...
Read more »
As China Faces Slowdown, Stimulus Will Have Smaller Global ReachChina’s spending spree during the global financial crisis helped pull the world economy out of recession. This time, Beijing’s stimulus might not pack the same punch.
Read more »
Dow opens lower, erases weekly gain as fears of a slowdown in global growth resurfaceU.S. stock indexes opened lower on Friday as signs of weakness in Europe's economy underscored worries about sluggish expansion outside of America. The Dow...
Read more »
Micron recognizes reality and receives a relief rallyMemory chip maker Micron Technology Inc. appears to be finally accepting the reality of the semiconductor downturn and its shares jumped.
Read more »