Tom Essaye Tells Barron’s What’s Really Supporting The Rally
The two underpinnings of the rally are really earnings and economic growth, Tom Essaye tells Barron’s.
S&P 500, Nasdaq Climb Back to Record Highs. Earnings Are in Focus.
“The two underpinnings of the rally are really earnings and economic growth, and the news continues to be good,” Sevens Report Research’s Tom Essaye tells Barron’s.
Essaye argues part of the risk for the market is that both strong earnings and economic growth are tied to the artificial intelligence buildout.
“That’s essentially acting like an economic stimulus program that’s boosting growth at the same time,” he says. “That’s fine—unless it stops. And then all of a sudden you’ve got a really substantial problem on your hands.”
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