Republished - U.S. Stock Markets Nearing All Time Highs: Why They can Move Higher
The following is an excerpt from our April research piece, U.S. Stock Markets Nearing All Time Highs: Why They can Move Higher, which can be found HERE
For literally years, actually four years now, investors in stocks, market participants, media pundits, and so-called experts have been focused on all that is wrong in the world. Too much debt, check. A potential Eurozone break-up, check. Lackluster job growth, check. The end of the economic world as we know it, check. However, despite all the doom and gloom and predictions that missed the mark (widely), U.S. stock markets are within a stone’s throw of reaching their all-time highs.
As you can see in the chart below, the Dow Jones Industrial Average is at a level not seen since late 2007. Surprisingly, the discussion still remains centered around what can go wrong. We often say that when only one side of the story is told, one argument easy to make, it’s time to look at the other side, which is precisely the objective of this commentary.