New York
WALL Street seems unable to make up its mind about risk-taking.
The market declined sharply on Friday, yet all three major domestic stock indexes are still near their highs. Shares of speculative small companies have been outpacing stable blue-chip stocks lately. And volatile emerging-market equities have shot up more than 16 per cent so far this year.
Many market strategists expect stocks to resume their long move upwards but say caution, rather than greed-induced euphoria, is appropriate at this stage of the seven-year-old bull market.
"I would not describe this as a 'risk on' type of environment," said Matt Kadnar, a member of the asset allocation team at the investment management firm...
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