This market is unstoppable
You wonder what the entire narrative would look like if US markets weren't up 8% this year (and the NASDAQ up 16%)?
You can argue that's all about a tax cut.
Elsewhere stocks are lower. The euro stoxx 50 is down 5% this year with Germany down 7%. The Nikkei is down 1% and CSI 300 down 19%.
There aren't a lot of bright spots and that doesn't bode well. Today, US futures point to a small gain but there's going to be a major test if/when Trump announces more tariffs on China.
SPX:
Here's some food for thought from Bloomberg:
"Citi's panic/euphoria model, tracking everything from margin debt to options trading and newsletterbullishness, just showed sentiment climbed to extreme levels for the first time since January. Such readings have preceded equity losses over the following 12 months 70 percent of the time since 1987, more than three times the random probability."
