Why Optimism for Stocks on Wall Street is Fading – Fast

Dow, S&P 500 fail to top record highs set almost a year ago

by Anora Mahmudova
Market Watch

A monthlong drift lower on the S&P 500 along with a gradual shift in expectations for interest rates has sapped Wall Street’s enthusiasm for stocks.

Just two months ago, investors’ moods had improved markedly as stocks were rallying from their 2016 lows and a deterioration in earnings growth and a batch of weak data were giving way to hope that those reports were a temporary blip and that the Federal Reserve would maintain its easy-money policy for longer.

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