Stocks Rally on Complacency Despite Warning Signs
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Stocks are being fueled by "complacency, greed, and momentum," not fundamentals, per economist David Rosenberg
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There's a lack of earnings support for the market rally, with stagnant earnings estimates since January
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Retail stocks are hitting highs despite drops in retail sales volumes
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Industrial stocks are reaching records despite negative core capital expenditure orders, a recessionary indicator
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The VIX volatility index is at historic lows, showing high investor complacency