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Need to Know: Gold is smelling a rat in this ‘animal spirits’ market — this is how

Another day, another record for stocks? Few investors are ready to bet against that Wall Street headline showing up later.

POTUS’s hint of a “massive” tax plan coming in the “not-too-distant future” helped the market to punch out a quarter-of-a-century feat. But the gains are about more than a promise of fiscal stimulus, say some.

“The U.S. is seeing signs of ‘animal spirits,’” said IG’s Chris Weston, pointing to a cluster of upbeat U.S. economic data. That, he says, is evidence that stock gains are being driven by something besides a presidential promise.

Here’s more jungle talk from FXTM chief market strategist Hussen Sayed, who says you can talk bubbles all day long, but be warned that “bubbles may grow bigger, even much bigger, before they burst, if animal spirits continue to drive the rally.

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