Is The Stock Market Too High?
Where are the profits? That is the No. 1 question on Wall Street these days. After three years of stupendous double-digit increases, profit growth has slowed. The worry is that the only thing keeping the market levitating is the Federal Reserve. Doubters fear that all the money the Fed is pouring into the financial system to calm a financial crisis that has now spread to Brazil is pumping up stocks.
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