Art Hogan is more worried about the U.S.-China trade war than whether the Federal Reserve will cut interest rates.
Hogan, National Securities' chief market strategist, believes the Fed made the right decision Wednesday to communicateBut Hogan warns that won't be enough to stymie a market drop from trade war fallout." on Wednesday. "If we're able to accomplish a deal with China on trade before the end of this year, the Fed may not have to lower rates at all.", contends pinning hopes of a sustainable S&P 500 rally on an accommodative Fed is the wrong place to be.
"They don't have enough negative economic data in the here and now to be cutting rates. If they were to cut in July, let's say, that would still be an insurance cut," said Hogan. "I just don't think they have enough ammunition in their back pocket to be wasting any right now."price target is 2,900, an almost 1 percent decline from current levels.
He predicts the S&P could fall flat by next week's G-20 summit if President Donald Trump and Chinese President Xi Jinping"It's driving our impression of what the market should look like, our estimates for earnings in the back half of this year and for 2020 and certainly what we think monetary policy will look like," Hogan said. "That's not the place we really should be.
TradingNation Why do you continue to parade these no it all no nothings on your show they continue to be wrong please go back and list all the time they have been wrong and ask them why
TradingNation Even Steven's Chronicle business line items not eliminated i,,own expertisematter alwayschoice TradeGov grownuppolitics MENatWORK i,,value i,,worth
TradingNation I don't agree with a trade war while Russia is in the adversarial stance in which he's put it.
TradingNation How many more people will be ruined by the blabbermouths that are making stories up about a rate hike that WAS NOT promised yesterday. Watch for the sudden price drop once the manipulators have suckered in enough punters.
TradingNation I don't agree with a trade war with Russia in the adversarial stance in which he's put it.