Economy is hitting a 'soft patch,' but PNC expects market to reclaim record highs this quarter

  • 📰 CNBC
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Economy is hitting a 'soft patch,' but PNC expects market to reclaim record gains this quarter (via TradingNation)

But that doesn't mean investors will be clutching their stomachs the whole time.

According to the firm's chief investment strategist, stocks should still deliver gains for investors over the next three months despite the recent batch of sluggish economic reports. "We're feeling the effects of that hangover from a slower sluggish summer in the data that's coming out more recently. So, no question the data is mixed. Soft data is just that: It's soft," Agati said Friday on CNBC's "Agati, who doesn't envision a recession hitting the U.S. until at least 2021, believes the bullish driver will be third quarter earnings season, which is scheduled to kick-off the week of October 14.

"Q3 and Q4 earnings will come in better than expected," said Agati, who predicts the results will help the market rise 4 to 5% from current levels. That gain would put the S&P 500 and Dow back at record highs."An underappreciated positive"Instead of focusing on headline risks associated with the ongoing U.S.-China trade war, the uncertainty surrounding monetary policy and next year's election, Agati recommends investors focus on fundamentals.

"The market should really be focused on the earnings backdrop," she added. "The challenge is that the market is really struggling to price in the high degree of uncertainty associated with all these lingering macro headwinds."Despite Friday's rally, the

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:

 /  🏆 12. in CA
 

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

TradingNation So keep on buying!!!!! No, really, please Lord God, keep buying!!!!! Please!!!!

Canada Canada Latest News, Canada Canada Headlines

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

ATM bank fees are at a record high - Business InsiderThe average fee levied on US customers withdrawing money from an ATM outside of their bank's network has hit $4.72, a record high. Rising fees...
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock Market Rally Ends A Volatile WeekA late-week rally saw the market recover from a bad start to the fourth quarter. I'll be back... this time as a tourist...
Source: Forbes - 🏆 394. / 53 Read more »

Stocks could tumble 15% by early next year, investor Jack Ablin warnsCresset Capital's Jack Ablin expects wild swings to dominate the market in the coming months. TradingNation Shirley not $TBI Airplane “Don’t call me Shirley.”
Source: CNBC - 🏆 12. / 72 Read more »

Three before you leave — What to watch for in the market MondayThe first full trading week of the fourth quarter kicks off, the U.S. and China will resume trade talks and we'll get a key reading on the German economy.
Source: CNBC - 🏆 12. / 72 Read more »