The highly technical Nasdaq and the wider S&P 500 set record after record.
Three experts join CNBC to discuss the future of the market.
Mike Wilson, chief U.S. equities strategist at Morgan Stanley, said expectations could be too high and a market cooling could be healthy.
“We’ve seen consumer confidence… suggest that the consumer is easing up a bit – not a recession but an exhausted consumer – and that’s our thesis. Will there be a feedback on request here? Overnight, our economics team is actually third. lowered their GDP forecast for the quarter from 6.5% to 2.9%. They kept their fourth quarter numbers the same, but look, there’s a risk that maybe if the delta doesn’t fade or I think delta, it’s kind of a trap. People say, “Oh, the slowdown is due to the delta”. The slowdown is not exclusively due to the delta. The reason we passed the hike is that we had a huge amount of excitement and now we’re going to pay for it a bit and that’s okay. “
Jeremy Siegel, professor of finance at the Wharton School, says dynamic trading is in full swing.
“I think we’re still in a bull market. I think long term returns won’t be as strong as they certainly have been in the last 10 years and maybe not even the last 200 years, but there is still inflation and well ahead of fixed income. What’s going on right now, have you heard of that old expression on Wall Street “up a ladder and down an elevator”. We are on the stairs going up. I don’t know when the elevator will arrive. But it seems like a dynamic business, it keeps going up a little bit every day, no real news to keep it going. and many others The rhythm of the players accumulates. We already had it. And, you know, it’s very hard to say when it might end.
Tom Forte, senior research analyst at DA Davidson, discusses a critical issue for Apple – the largest publicly traded company on Wall Street.
“My thesis is that over time Apple is reducing the App Store commission from 30% to a smaller number of 10%. I think some investors may be hoping that if Apple can make these adjustments on its own, it won’t force the government to step in and maybe come up with a more difficult solution for Apple. But I think it’s curious that investors are giving the stock a pass on this significant growth. “