Yet investors remain unrelentingly bullish, bidding the US stock market further into uncharted territory.
That’s the strongest start to a year since 1997, according to FactSet, when the US economy was surging during the dotcom boom under President Bill Clinton.
Kristina Hooper, chief global market strategist at Invesco, said the “very impressive” market performance has been driven by “continued resilience” in the US economy and enthusiasm over Fed rate cuts.
US stocks retreated Tuesday after the White House warned that Iran is preparing to launch an imminent ballistic missile attack on Iran.
“The Iran report is the thing scaring everyone right now,” said Michael Block, co-founder and chief operating officer at AgentSmyth.
Persons:
Bill Clinton, Kristina Hooper, “, ”, Michael Block, hasn’t, Block
Organizations:
New, New York CNN, Federal, White, House, Tech, Nvidia, CNN
Locations:
New York, Iran, Taiwan