Crazy market euphoria may wane by the end of the year – analyst to Boom Bust

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Crazy market euphoria may wane by the end of the year – analyst to Boom Bust

Stocks keep hitting record highs on positive economic data, but investors should still be cautious, as this quarter’s performance may turn out to be just a post-Covid anomaly, an investment analyst warns.

The Dow Jones Industrial Average closed above 34,000 for the first time on Thursday, and the S&P 500 also reached new record highs. RT’s Boom Bust discussed the rally and blowout economic data with Joseph Gissy, founder and CEO of Strategy Marketplace.

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“It kinda feels like it’s an anomaly, because we’ve never in our history had this worldwide shutdown,” he said. Despite some rosy predictions, Gissy believes some caution should be exercised till the end of the year, as the economy is not “completely out of the woods yet.”

“We already know that inflation is starting to creep its ugly little head up… So, we just have to have a little bit of caution, even though investors right now are in this crazy euphoria, thinking that this can continue on and on,” the analyst noted.

For more stories on economy & finance visit RT’s business section

RT

This article originally appeared on RT Business News

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