Why a stock-market top would be 'very unusual' right now:
Bears contend the stock market’s largely sideways action over the last year signals a top may already be near, if not already established. But that would be out of keeping with recent history, says one economist.
As the table shows, the stock market’s peak has come ahead of the economy in the run-up to seven of the last eight recessions dating back to 1960, LaVorgna noted, with an average lead of seven months. More recently, there have been much shorter lead times from the stock-market peak to the peak in the economy, he said, which “means that strong stock-market performance could persist until very late in the business cycle.
The market’s largely sideways trade over the last 12 months — the S&P 500 SPX, -0.01% has gained 2.1% over the past year, while the Dow Jones Industrial Average DJIA, +0.06% is up 0.8% over the same stretch — “suggests that we have not seen the highs of the current business cycle,” LaVorgna said.
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.
Why Trump Has Finally Forced the House to Impeach HimTrump took the anti-climactic reception of the Mueller report as carte blanche to plan his next crime
Read more »
Selena Gomez Reveals Why She Stepped Away From the Spotlight: 'This Is My Truth'Selena Gomez was candid about mental and emotional struggles and why she stepped away from the spotlight last year during a speech in Boston.
Read more »
Why Aren't More Women Novelists Celebrities?
Read more »
Why Today’s Musicians Are More Into Fashion Than...MusicArtists like Beyoncé, Rihanna and Justin Bieber are behaving more like Instagram fashion influencers than traditional musicians.
Read more »
Why Billy Porter's Emmy Win Made HistoryCONGRATULATIONS TO HIS ROYAL HIGHNESS THEE BILLY PORTER theebillyporter Emmys
Read more »