May 29, 2013

Jim Paulsen: "Rising confidence is driving the stock market higher"

People are having trouble understanding why the market is going up when the economy is growing slowly, jobs are hard to find, and corporate profit growth is slowing, and they are left with the idea that the rally is just a sugar high from the Fed.  My take is that rising confidence is driving the stock market higher, [adding that investors now believe the worst-case fears they've harbored since the 2008 financial crisis won't be realized].

~ Jim Paulsen, chief investment strategist at Wells Capital Management, "Bull Run Gets Solid Footing," USA Today, May 29, 2013

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