Wall Street Has a "Big" Problem, and It May Spell Serious Trouble for Stocks
Patience tends to be handsomely rewarded on Wall Street, as any long-term chart of the Dow Jones Industrial Average (DJINDICES: ^DJI), S 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) shows. However, the short-term movements in these major U.S. stock indexes are far less predictable.
In just a two-year stretch, the Dow Jones, S 500, and Nasdaq Composite have screamed to new highs, plunged into a bear market, and come roaring back -- at least for the S 500 and Nasdaq Composite. On a year-to-date basis, through June 26, 2023, the broad-based S 500 and growth-driven Nasdaq Composite were higher by 12.7% and 27.4%, respectively.
While a running of the bulls is typically welcome news for investors, a deeper dive into what's driving the S 500 and Nasdaq Composite higher reveals that Wall Street has a "big" problem on its hands.
Source Fool.com
