Itโs not just GameStop worrying Wall Street about a bubble
(Colin Ziemer/New York Stock Exchange via AP)(AP) โ Now, even the pros on Wall Street are asking if the stock market has shot too high. But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy. All the fervor has Wall Street openly debating whether the market is in a dangerous bubble, after months of batting away the possibility. For all the worries, much of Wall Street is still optimistic, forecasting more gains ahead. If earnings rise a lot and stock prices make only modest moves, prices would look more reasonable, and that's precisely what much of Wall Street expects to happen.