Is The New Record High In Stocks Irrational?
Published Friday, November 8, 2019 at: 7:00 AM EST
The Standard & Poor's 500 stock index, the key benchmark of current financial and economic conditions, closed at an all-time high for the second week in a row.Is it irrational exuberance? These four charts show the latest data on key fundamental economic factors driving financial market prices. Third quarter economic growth reported by the U.S. Bureau of Economic Analysis came in at 1.93%. Three of the four factors in economic growth — business investment, net exports, and state and local government spending — did not contribute to growth but consumer strength offset them and was the source of the 1.93% quarterly growth...
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