“There’s still uncertainty as to what direction this market should go. It’s anybody’s guess,” said Jeff Carbone, managing partner at Cornerstone Wealth, which has about $1.3 billion in assets under management. “I just don’t know if we’re out of the woods yet.”
(June 25): The S&P 500 is at a record, but areas of the stock market with a reputation for economic prescience are sending warning signals that hearken to the global financial crisis.
It’s small caps and transportation stocks, whose performance has deteriorated at a much faster clip than other parts of the market. Relative to the S&P 500, each group is on the brink of hitting its lowest point since 2009. For investors, the decline is another example of the growth debate churning underneath the market’s surface.
