Investors showing 'casino-like behavior' as stocks hit records

Stocks are on a roll, with the S&P 500 recording its ninth consecutive week of gains and several fresh record highs. Liz Ann Sonders, chief investment strategist at Charles Schwab's Schwab Center for Financial Research, warned of "casino-like behavior" among investors as markets climb.

The rally has been driven by blowout earnings and huge rallies in names such as Snowflake and Dell, even as the war in Iran and the historic oil shock continue. Sonders said she had been "very focused on the blurring of the lines between gambling and investing and some of the casino-like behavior that we're seeing in markets, and there's no question that there's speculative juices flowing here." Strong corporate results helped: Siebert Financial CIO Mark Malek called this quarter's earnings "stunning" and among the best since 2021.

Dell stock skyrocketed 35% after crushing estimates, and Snowflake surged nearly 40% after a blockbuster print and an expansion of its Amazon partnership.

Iran

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