Also: Banking-industry news, a bearish chart pattern for Tesla and threats to the dollar’s status as the world’s reserve currency
In 1901, American financier John Pierpont Morgan was caricatured as a securities-market bull as ordinary investors chased inflated values.
Courtesy Everett Collection
Have you ever wondered why the stock market rises during a period of economic uncertainty? Last year, when interest rates shot up, the S&P 500 SPX fell 18.1% (with dividends reinvested), which may not have surprised many people.
But 2023 hasn’t been a year of good economic news, and we narrowly averted a banking crisis last month. Meanwhile, the S&P 500 is up 8% this year.
William…
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Margherita Lanz