Ryan Detrick, senior market strategist at LPL Financial, says the historical comparisons are promising for the market.
"We just had a 20% gain in the second quarter. Only eight times since World War II do we gain at least 15%. Think about this — the next quarter was higher every single time. Two quarters later, higher every single time. So there is that sign, that signal that all the strength that we've seen earlier this year is consistent, and this sounds crazy, is more consistent with the beginning of a new bull market, not the end of a bull market.
Chris Hyzy, CIO at Bank of America, says tech should continue to lead the market alongside one other sector. "Most bull market advances, at least the recent ones in the last two or three decades, have included technology throughout as a leadership group. This time around the bookend to technology is health care. And the reason is technology and health care both have the highest free cash flow collectively in theDavid Kostin, chief U.S. equity strategist at Goldman Sachs, sees a range-bound market ahead.
"The market in our forecast is likely to be range-bound somewhere between 3,200 on the upper end [of the S&P] and 2,750 or 2,800 on the low end, so that's the expectation in terms of the range or the path as we move forward into the rest of the year ... The narrowness of the market is really pretty striking.
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La source: Reuters - 🏆 2. / 97 Lire la suite »
Citi expects stocks to go sideways for a year, suggests defensivesWorld stocks will probably tread water for a year, according to Citi strategists, who recommend a more defensive portfolio in the face of the fallout from the coronavirus pandemic. this almost guarantees that stocks won't go sideways for a year... That’s a stupid position to have. Get a new broker. 1yr is optimistic vision...
La source: Reuters - 🏆 2. / 97 Lire la suite »
European stocks seen higher as economic recovery, vaccine hopes drive risk-on sentimentEuropean markets are set for a bounce on Monday morning as investors focus on the prospect of economic recovery and progress on potential coronavirus drugs. BREAKING a live virus always spreads the virus. Who wants to bet? I got an OunceOfGold economic activity is NOT recovering and theres still no vaccine in sight. Actual headline central bank is currently buying up securities markets around the world in trade for all this “free government money” people are using to buy tv’s.
La source: CNBC - 🏆 12. / 72 Lire la suite »
Asia stocks trade mixed as WHO reports all-time high in coronavirus casesThe World Health Organization (WHO) reported over the weekend a record high number of coronavirus cases in 24 hours. Stop talking about cases. Talk about mortality stats or death rates. It is misleading Don't bury the lead. What else did the WHO report this weekend? That China never informed it of the Wuhan virus? Fauci says coronavirus may be mutating to become more infectious:
La source: CNBC - 🏆 12. / 72 Lire la suite »
Stocks rally, yuan surges as investors bet on China revivalGlobal stock markets rallied and China's yuan posted its biggest gain since December on Monday as investors bet the Chinese economy would boost global growth even as surging coronavirus cases delayed business re-openings across the United States. dumb investments .
La source: Reuters - 🏆 2. / 97 Lire la suite »