Kevin O'Leary says stocks are gearing up for likely 8% return this year as consumers are flush with cash and the economy heads for a soft landing
in the coming months. But investor Kevin O'Leary of"Shark Tank" fame foresees equities avoiding a sharp slide.
In the midst of it, O'Leary said he was blown away by the January retail sales report released last week that showed a 6.4% increase year over year. The rate outstripped expectations of 6.2%. earnings report released this week indicated customers were buying less expensive items."But the economy is still flush with cash, the consumer's still healthy and still has a consumable demand.
To be sure, the rally that kicked equities higher at the start of 2023 has been slowing recently, with thethis week experiencing its worst sell-off of the year. Investors appear to be nervous that the Federal Reserve will continue to raise interest rates above their expectations to further tame inflation.
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