Never Mind the Narratives: ‘This Market Wants to Go Higher’
- Fear of missing out is running high, thanks to Fed support
- Additional stimulus, election clarity cited as new catalysts
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From a Democratic sweep to the unwinding of September’s correction to a belief that a stimulus package is inevitable, a bundle of divergent explanations exist for what just spurred the stock market’s biggest weekly rally in three months.
Then there’s the view of Mohamed El-Erian, with his decades of investing experience: “Right now, this market wants to go higher.”