Now comes the hard part: Was it noise, or did Friday’s broad-based rally signal a turning point in favor of the bulls?The year-to-date results, however, still reflect a mixed picture, leaving investors to wonder if the latest pop is something more than a temporary bout of volatility in a run of selling that started in the summer.One analyst expects that the market correction of late has run its course.
Morgan Stanley strategist Mike Wilson, however, still favors a cautious outlook and tells investors not to read too much into the latest slide in Treasury yields. On the interest-rate front, Fed funds futures this morning are pricing in a 90% probability that the central bank will leave its target rate unchanged again at the next FOMC policy meeting on Dec. 13.
It’s premature to conclude that this is enough to end the recent slide in stock and bond prices, but the case for optimism is a bit stronger vs. this time last week.Warren Buffett's Berkshire Hathaway reported robust earnings and increased liquidity in the third quarter. Despite the solid performance, Warren Buffett maintains a cautious...