“Father Time always wins,” Warren Buffett said as he stepped down as chairman of Berkshire Hathaway early Friday.
It turns out the stock market always wins, too, no matter what gets thrown at it. And there’s been a lot this week—fears over a slowdown in AI development, the Federal Reserve’s first rate increase in three years, and sky-high diesel and oil prices.
Yet the Nasdaq is on track for a weekly gain, and the S&P 500 could get there too.
Tech stocks, including Micron, are set for another good day against the odds. The same goes for Bitcoin. The failure of the Clarity Act vote in the Senate earlier this week and a rate hike should have punctured crypto’s recent rally. Instead, digital assets are making strong gains.
The Fed decision grabbed the limelight, but there’s a more sensible reason for the market’s strength. Oil prices have fallen for three straight days after nearing $110 a barrel, easing inflation worries in the process. If that continues, it’s a winning formula for the stock market.
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