President Donald Trump’s chaotic tariff policies have upended global trade and led to questions about whether the days of US exceptionalism and leadership that attracted capital from around the world are over. America’s labor market is on shaky ground, with job growth grinding to a halt. Inflation rates show signs of turning higher again, raising doubts about whether the Federal Reserve can resume interest-rate cuts. So, naturally, the benchmark S&P 500 Index of stocks is… at a record high?
It’s really no mystery why equities are seeming to defy logic when you realize that fundamentals, rather than sentiment, ultimately prevail. Just consider the current ...
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