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

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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.

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