) are trading higher on Thursday morning as the market reacts to the Summary of Economic Projections. Also known as the Fed dot plot, the projections were released following the Federal Open Market Committee's Wednesday meeting. The data revealed that nine of the members believe three interest rate cuts will occur by the year's end.
Despite trading occurring at record highs, Lerner signals there are still many entry points into the market:"We still like tech, we still like communications, we like financials which are at a new high but still well below where they were several years ago. There are pockets of opportunity, the equal weight S&P also just broke out to a new high but didn't do anything for a few years.
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