, Columnist
The Stock Market Just Got a Sobering Reality Check
Recent economic reports show that there’s little booming these days outside of AI and equities.
Mind the gap.
Photographer: Spencer Platt/Getty Images North AmericaA booming stock market just got a sobering reality check from the real economy.
Optimism around artificial intelligence and the passage of the deficit-expanding tax bill have made some investors wonder about the risk of overheating, with the S&P 500 reaching a fresh record in July. Last week’s reports on jobs and economic growth made clear that those concerns are purely a financial markets phenomenon, one that’s disconnected from activity on the ground.