Bank of America cautions about a major sell-off in the stock market as jobless claims remained stable last week.
Former White House Economic Adviser Steve Moore joined The National Desk’s Jan Jeffcoat to break it down.
“If I knew what was going to happen to the stock market, I'd be a very rich person. I will say this, that there have been a lot of false predictions of doom on the economy over the last year,” he said. “Remember, at the end of last year, almost all these big Wall Street investment firms were saying that we were going to have a recession and we didn't have a recession. There has been a lot of talk about stock sell-offs.
Michael Hartnett, the chief investment strategist at Bank of America warned that the stock market could spiral downward saying, “We are not convinced we’re at the start of brand, new shiny bull market. Still feels more like a combo of 2000 or 2008, big rally before big collapse.”“2022 was a lousy year for stocks. The stocks lost 15 to 20% of their value. But this year has been a strong year so far. So I can't really answer your question about whether the stock market has ended.
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