The U.S. Commerce Department stated on Friday that the economy grew at its slowest level in over three years. “The Street” overreacted to this news and the U.S. stock market plunged the remainder of the day wiping up the gains made in the morning and more. “The Herd” sees this as a sign that the soft landing many predicted might not come to fruition. In recent weeks these are the same people who raised the stock market and Dow Jones to record levels because of good economic reports. So . . .
Who is right? Well, no one knows for sure, but there will always be speculators who jump on good and bad news and move the stock market like it was moved on Friday. A hard landing might be coming, but you never know.