Thursday, 18 January 2018

US stocks hit all-time highs but may be “on edge of chaos”

Markets were mixed on Wednesday.

The S&P 500 rose 0.9 percent to another all-time high but the STOXX Europe 600 fell 0.1 percent and Asian markets were mixed.

With the resumption of the rally, Craig Birk, executive vice president of portfolio management at Personal Capital, said he did not see “anything that will bring a shock to the market”.

However, Peter Boockvar, chief investment officer at wealth manager Bleakley Financial Group, said the market is “extraordinarily stretched”.

Francesco Filia, chief executive at asset management firm Fasanara Capital, told CNBC that markets are “on the edge of chaos” with valuations “totally disconnected from fundamentals”.

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