The Stock Market Is Sending Mixed Messages
The market is an argument staged every day about the value of tomorrow. And right now, to an unusual degree, the market itself is giving each side of the the bull-bear debate sheafs of evidence supporting its case. The steady trend of rising share prices and lack of financial stress or noteworthy recession signals leave the benefit of the doubt with the bulls. The fact that third-quarter GDP is still tracking above 3 percent and forward S&P 500 earnings estimates are holding up well could mean time is running out for the fundamentals to fall apart in time to pressure the market much this year.