Stocks pop after inflation data shows price increases cool
Honestly, the whole market feels grossly overbought right now. 🤔
https://finance.yahoo.com/news/stocks-pop-after-inflation-data-shows-price-increases-cool-stock-market-news-today-171004321.htmlOpen linkView original on lemmy.world
Grossly overbought? Why do you say that? The average P/E is near the long-term average, although a few stocks are bringing it up.
SPY normally returns 15%ish and is up nearly that 6 months into the year. Things are overheated.
SPY is still down since Jan 2022. It'll have to surpass that (and be rising quickly) before it feels too hot for me.
The labor market is so tight right now it's hard to see inflation cooling too much. That and the government printing bucketloads of money make me a little nervous of what's ahead.