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This is a Junky Market Rally!
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This is a Junky Market Rally!

Equity prices lack fundamental support

David Rosenberg's avatar
David Rosenberg
Nov 08, 2023
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Early Morning with Dave
Early Morning with Dave
This is a Junky Market Rally!
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Highlights

• The recent rally in equity prices lacks fundamental support

• Credit card spending cooled as Q3 came to a close — more signs of the fading “mid-year miniboom”

• Rising unemployment rate flashes a recession signal

• High rates are beginning to weigh on the consumer

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