Stocks are gliding higher in a bullish way after December's trouncing [CNBC]
Morgan Stanley (MS)
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Source: CNBC
Stocks are gliding higher in a bullish way after December's trouncing Carlo Allegri | Reuters The Charging Bull near Wall Street is pictured in New York, January 16, 2019 Compared to the rough ride down, stocks have much more quietly and gently recovered more than 13 percent of their losses from the Christmas Eve low. That's good news for bullish investors, who expect that the turbulent Christmas lows marked the bottom of the rout that took the S&P 500 down 20 percent on an intraday basis. The "It's a grind higher, but I think that's classic. The market takes the stairs up and elevator down. The elevator was a horror show in December. The market is just grinding its way back," said Art Hogan, chief market strategist at National Securities. "It has happened in a rational fashion, and I think that's good." Strategists say the recovery also could be signaling that the December sell off was an overreaction to fears about a global slowdown, rising rates and trade tensions. The market has s
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