Hackett says markets should be fairly calm until the start of the 2024 election cycle.Few experts were surprised when stocks got off to a good start this year, rebounding from a difficult 2022. But with the S&P 500 already up over 8% year-to-date, those gains have turned out to be stronger than most expected — and now they've lasted longer, too.
"We had all of that development and the market is almost at the highest level since August at this point, and the volatility has been taken away. I view that as incredibly encouraging," he said."The positive momentum that we see, there's incredibly strong historical precedent for that being a good omen for the year."
"Most of the technical factors that you'd like to see are heading in the right direction, whether that's breadth, momentum, the sentiment is starting to improve," he said. Hackett is more bullish on almost anything else, especially small cap stocks, value stocks, and non-US names.