The stock market’s next leg up will have more to do with Main Street optimism than Wall Street bullishness, according to James Paulsen, the …
The stock market’s next leg up will have more to do with Main Street optimism than Wall Street bullishness, according to James Paulsen, the chief investment strategist at The Leuthold Group. Stocks wavered near all-time highs to close out the week as investors weighed stretched valuations against hopes for economic recovery. The surge to fresh records has led some to grow increasingly worried that a market correction will come later in the year as investor bullishness reaches a fever pitch. A brief decline is likely « healthy » for the new bull market, but stocks could first see a new boon from everyday Americans, Paulsen said in a note to clients. Consumer confidence remains well below levels seen before the pandemic amid continued lockdowns and economic pain.
