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Though U.S. stocks are just a good day away from breaking into a new all-time high (with the TSX Index not too far away from its own highs, down just shy of 4%), it certainly does seem like some sort of pullback or breather is in order. Indeed, we’ve likely been conditioned to doubt all-time highs, given we just rose out of a bear market over the past year.
Given we’re likely in the early stages of a new bull market, we may grow to become conditioned to expect higher highs on the back of better corporate earnings. Also, whenever you’ve got a productivity enhancer in the form of predictive and generative artificial intelligence (AI), it’s hard not to be enthused by the longer-term prospects of economic growth.
If AI continues innovating at this pace, ARK Invest’s Cathie Wood may be right in that it’s deflation, not inflation, that may become the main concern on the minds of investors. Indeed,…
