The Fed has said it would gradually reduce bond purchases as the economy strengthens and unemployment declines. Meantime, financial markets have benefited greatly. Despite fears of a Fed pullback and worries about China’s slowing economy, market economist Max Wolff says there’s no reason to panic.
I think all-in stocks probably turn in a pretty decent year. But, I mean I've been on the record for a while saying this: I think we probably reached our maximum in April or May, I don't expect us to be above that in a meaningful long-term sense at year-end," said Wolff.
Cornell professor Steven Kyle says investors overreacted. “I do think it’s a little bit overblown, but the fact of the matter is, those guys like to be the first one out the door whenever there’s a change in the market.”
European stocks were down, while Asian and U.S. markets were mixed on Friday as the dollar gained strength and bond yields rose higher. Despite choppy trading on Wall Street - the Dow settled into positive territory, in time for the closing bell.
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25