The S&P 500 (^GSPC) has closed at a new record high on Thursday after a bit of a bumpy week. After stocks sold-off on Tuesday, many on Wall Street were wondering if this was a sign of things to come or if the market was just due for a correction.
The Wealth Alliance CEO Rob Conzo joins Yahoo Finance to give insight into how the market may operate moving forward.
Conzo comments on the sell-off: “Tuesday was eye opening. People started saying the game is over, the trend is going down, not… where it should be , and then retail sales came out. You get a mixed bag of indices. I think the market’s reaction over the past couple of days has been the right one. It got nervous, came back, shrugged it off. One of the reasons why the market, I think, is doing that was that this is not the first time we’ve seen economic data points be choppy. From July, August, September, data points went in the wrong direction, the market tanked. They turned around…I think that set us up to start to think about the data points in a little greater context.”
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Editor’s note: This article was written by Nicholas Jacobino
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