It’s not only on Wall Street. More bullish sentiment among investors is affecting Asian stock markets as well.
The Wall Street Journal reports that Japanese shares rose for a ninth straight session Monday, marking their longest winning streak in more than 20 years. Meanwhile, Shanghai’s benchmark index reached its best closing in nearly 14 months.
In the U.S., the Dow has risen about 38 percent since its low point earlier this year.
There’s a growing belief that the recovery is beginning and corporate profits are on the mend. When we look back at this summer, many economists now believe it will show that a “recovery” began. As defined by growth, they say the U.S. economy will be in positive territory starting in the third quarter.
But, this recovery will be a shallow one — at least at first. Unemployment is expected to rise into next year. Because of that, many will ask, “What recovery?”
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