What moves the stock market? it's laways an unforeseeable combination of factors. Sure, trends crop up and continue for a while, but looking at the past for patterns isn't fruitful every time. Things change. While interest rates are important, they sometimes are less of a force than at others. Psychology, which is very hard to measure, is critical. What seems to matter is not what investors know but what they think they know. What doesn't matter is the conventional wisdom of so-called market experts. As the market moves sideways, you keep hearing learned commentary that says the second half will be down because earnings cannot possibly stay as strong as they are now. Sporadic economic indicators, like retail sales dropping 1% in June, appear to bear them out. Don't buy any of these glib assessments.
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