News Formal

Stocks set for a pullback; it's a buying opportunity: Strategist

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 33 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Brian Belski News

BMO Capital Markets

BMO Capital Markets chief investment strategist Brian Belski joins Morning Brief to break down his chart for the Yahoo Finance Chartbook, which highlights...

"We said in November of this year that 2024 was the second year of the new cyclical bull market, which began in October of 2022. We were in print on that as well, and the average drawdown since 1949 is 9.4%. Why that is concerning is we've only had a 5.5% correction so far in the market.

The chart that you sent over, we have it up on your screen here, the S and P 500 max draw down and what's happened here during the second year of the bull market, what's your read on what we're seeing and ultimately what this signals here just in terms of that direction going forward, just kudos to Yahoo because I sent you a bunch of charts and he nailed it.Now, there's been a lot of strategists talking about a 10% correction.

Well, remember the formula for investing Maddie in our view is stocks, lead earnings, which lead the economy, stocks lead earnings, which lead the economy, stock market's been up a lot.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Yield sector relief’ ahead predicts BMO chief investment strategistDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Source: globeandmail - 🏆 5. / 92 Read more »

BMO analyst outlines why bank stocks will outperform for rest of 2024Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Source: globebusiness - 🏆 31. / 66 Read more »

U.S. value stocks offer opportunities for bargain-hunters, BofA’s equity and quant strategist saysThey’ve badly lagging their growth-focused counterparts this year
Source: globeandmail - 🏆 5. / 92 Read more »

How venture capital has changed since the pandemic: Stocks in TranslationVenture capital has significantly changed since its peak in early 2021. Low interest rates helped investors deploy significant capital into unicorn startups,...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »