and Barclays have all published notes touting the boost to markets a Biden presidency would bring — one reason being the heightened likelihood of a more robust stimulus package being passed under Democratic leadership than is likely with Republicans in power.
"Sometimes, markets rally on the flimsiest of narratives," the chief strategist at AlphaOmega Advisors and former global chief market strategist at Cantor Fitzgerald said in a recent note. "How durable are the current narratives? Not very."Cecchini is bearish on the market's upward path, and warns that it is being driven by three "nonsense narratives" in particular. He unpacks each below.
Still, Cecchini doesn't completely discount the importance of stimulus for markets, stating his worry that a contested election might mean a delay in stimulus. Indeed, some of the most influential players in finance and economics — like Federal Reserve Chairman Jerome Powell — have made their voices heard on the crucial role another round of stimulus will play in the economic recovery and the health of financial markets.
"For 2019, S&P 500 earnings growth year-over-year was flat for large caps and down about 15% for small caps. The prospects for a quick turnaround in earnings growth seems utterly dim," Cecchini said. "Maintaining low rates can't support ever-rising equity prices when earnings remain challenged and credit quality continues to deteriorate."
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:
It WILL be an epic crash, not IF, just WHEN! WileGenius
good
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market crash: Expert sees US transitioning to insolvency phase - Business Insider'I'm extremely concerned': A former Goldman Sachs hedge-fund chief says a flood of troubling signals shows the stock market is teetering — and warns a small correction could soon morph into something much larger nice
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market analysis: 5 forces that will shape US demand in 2021, GS says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. good Economic recovery will be built on educated upskilled workforce We know from experience, economic downturns lead to upturns in demand for education. An undisclosed amount of government funding will be invested in Micro-credentials. Future of Education 👩💻❤👩🎓 Marketplace for online microcredentials OpenLearning to solve a skills shortage
Source: BusinessInsider - 🏆 729. / 51 Read more »
How private equity titan Robert F. Smith evaded $43 million in taxes - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. good Now investigate Trump, tired of these rich people not paying taxes and middle class has to pay so much, more than likely we are paying their taxes they would not pay. Unpaid because of racism? There may be some protestor funding groups prepared to bail out the debts of the wealthy who are oppressed.
Source: BusinessInsider - 🏆 729. / 51 Read more »
14 Fashion Insiders on the Best Strapless Bras on the Market14 fashion insiders on the best strapless bras on the market.
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »
12 stock picks to buy, capitalize on millennial wealth boom, says Cowen - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. wow
Source: BusinessInsider - 🏆 729. / 51 Read more »