Getting your player ready...
Strategists have been slashing their forecasts for the Standard & Poor’s 500 as optimism for a moderate recession has been replaced by increasing gloom.
But as research firm Biryini Associates points out in a recent newsletter, year-end price targets for the market aren’t coming down at the same clip.
This suggests some “Wall Street soothsayers” aren’t facing the music as bravely as they should, the firm says.
