The Nasdaq Composite, which tracks the stock performance of the more than 3,000 stocks listed on the exchange, hit a new all-time high (again) this week. This marks the 19th time this year the benchmark has ascended to new heights (as of this writing) and its longest winning streak since late 2021. There’s likely much more to come, according to numerous sources on Wall Street.
XM Investment analyst Marios Hadjikyriacos is counted among those. “Stock markets are enjoying the best of all worlds, buoyed by a resilient U.S. economy and speculation that Fed rate cuts are just around the corner, helping to justify stretched valuations,” he wrote. UBS analyst Mark Haefele is also bullish, noting, “All-time highs often generate investor concern that markets have peaked. Such worries are not supported by history,” he counseled concerned investors.
Despite reaching new heights, a number of…
