Market Vibe Is as Good as It Gets, and That's Not Good
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If July is the stock market’s critical test, then so far, so good. Upbeat earnings, lower jobless claims, inflation still under 3% and newly passed tax cuts have all combined to keep the market grinding higher. But is this as good as it gets?
Data have been good, yes, but not spectacular. And there’s still a tariff overhang to deal with. With sentiment so bullish, it’s hard not to expect some kind of disappointment soon. And that doesn’t even include the possibility of Donald Trump imminently firing Fed Chair Jerome Powell, an idea that was making the rounds Wednesday until the president appeared to quash the speculation — for now.