Stock Market Keeps Rallying, Defying Doom Scenarios
- Latest rally pressures bears betting worst yet to come
- Regional banks, target of short sellers, rally most in a year
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A recession will torpedo stocks. Or banking turmoil. Or a government default, or falling earnings, or a too-aggressive Federal Reserve.
Doom-saying is never in short supply when stocks are rallying. Lately, it’s reached fevered levels. Could all the pessimism be revving up price action that just pushed the S&P 500 to its highest level in nine months? In the sometimes contrarian world of investing, stranger things have happened.