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Stock Market Has No Fear of a Recession That’s Almost Priced In

  • Equities rise despite weak data on hopes for slower Fed hikes
  • Investors who wait for recession call risk missing bargains
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Guggenheim's Minerd: Hard to Argue US Not in Recession
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The stock market is wrestling with a “bad news is actually good news” scenario.

US gross domestic product shrank in the second quarter after slowing in the first quarter as well. Two consecutive quarters of contraction is the technical definition of a recession, although the real world definition is more nuanced. In addition, personal consumption fell in the second quarter.