Jim Bianco says that for the moment the stock market is moving up, but bank stocks do not agree.
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The Nasdaq closed at the highest level of the year last Friday with an about 20% move off the October 2022 lows. Does this signify a bull market today? Jim Bianco says that for the moment the stock market is moving up, but bank stocks do not agree. Bonds also are in a different territory as rates are down from where they were a month ago. The stock market today is driven by FAANG stocks, Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA).
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